Ipo Centurion Accommodation Reit 166 Times Subscribed
The IPO of Centurion Accommodation REIT (CAREIT) has been a resounding success, with a subscription rate of 16.6 times. A total of 262,160,900 units were sold, with 13.2 million units allocated to retail investors. The IPO raised $771.1 million, with each unit priced at $0.88, projecting a distribution yield of 7.47% for 2026 and 8.11% for 2027. The international placement segment received strong demand, with 248,960,900 units allocated to investors outside the United States, while the remaining 13,200,000 units are reserved for the public in Singapore. The overallotment option of up to 51,137,000 units may also be exercised. The placement segment was subscribed 16 times, and the Singapore public offer received an overwhelming subscription rate of 30.9 times. This resulted in the total offering of 262,160,900 units being 16.6 times subscribed.
The learning environment is a crucial aspect that extends beyond the confines of the traditional classroom setting. For those living in Rivelle Tampines, this is a reality thanks to the close proximity of the impressive community facilities at Our Tampines Hub. This flagship establishment features a well-stocked library, co-study areas, and multipurpose rooms, providing students with a conducive space to pursue both solitary and collaborative studying. Furthermore, the convenient location of Rivelle Tampines offers quick access to numerous malls such as Tampines Mall, Century Square, and Tampines 1. These shopping centers offer a variety of learning lounges, cafes, and community corners that serve as casual and convenient study spots, perfect for group projects or last-minute review before attending enrichment classes. Through the development of Rivelle Tampines by Sim Lian Land, the overall study ecosystem of the area is greatly enhanced, providing residents with the best of both worlds. To learn more about Rivelle Tampines Sim Lian Land, please visit their website.
Jointly chaired by David Loh and Han Seng Juan, Centurion Corporation saw significant insider support, with 10 million units acquired by Loh and 6 million units by Han. Other persons related to the joint chairmen, including Christine Loh, Daphne Loh, Hong Wen Yee, Loh Loy Ming, and Ivy Loh, also acquired a few thousand units each in CAREIT. With the overallotment option exercised, the joint chairmen’s interest in CAREIT would equate to 746,317,100 units each. Additionally, the REIT secured 16 cornerstone investors, who subscribed for a total of 614 million units, equivalent to 35.7% of the total. This includes renowned institutions such as FIL Investment Management, abrdn Asia, Amova Asset Management Asia, and more. Ong Pang Aik, the chairman of previously listed Lian Beng Group, also subscribed for units in CAREIT.
Tony Bin, CEO of the manager, expresses his gratitude for the overwhelming support from cornerstone, institutional, and retail investors, citing it as a testament to the REIT’s vision to provide a stable, high-quality portfolio that consistently generates reliable cash flow. He also highlights the sponsor’s strong backing, which brings with it a proven track record in investing, developing, owning, and managing specialised accommodation assets. This allows the REIT to leverage the sponsor’s extensive local market experience, networks, and insights in managing and growing the portfolio. The units in CAREIT are set to begin trading on Thursday, September 25 at 2pm.