Perennial Real Estate Holdings said late on Monday (Dec 22) it has gained control of 96.32 per cent of Perennial China Retail Trust at the close of its takeover offer. Trading in Perennial China will be suspended from Tuesday, and Perennial Real Estate will exercise its right to compulsorily acquire the remaining Perennial units at the offer price of S$0.70, to be satisfied by the issuance of 0.52423...
Perennial China Retail Trust
Shares of Catalist-listed St James Holdings closed 19 per cent higher on Monday, boosted by news the firm would be transformed into a property developer via a reverse takeover deal. The nightspot operator's shares ended trading at 6.4 cents each, up from 5.4 cents before the stock was suspended on Friday. The shares rose as high as 7.7 cents earlier in the session. St James said on Friday it would...
Perennial China Retail Trust (PCRT) has posted S$43.6 million in amount available for distribution to unitholders for the year ended December 31. This brings its full-year distribution per unit to 3.86 Singapore cents. For the fourth quarter, amount available for distribution to unitholders was S$11.2 million. The China-focused retail development trust said distributable income for the full year was...
The initial public offering of Perennial China Retail Trust (PCRT) has gained strong interest from both institutional and public investors. PCRT said in a statement that the S$776.2 million IPO was 1.6 times subscribed. The trust added that its initial eight cornerstone investors make up 46.1 per cent - or 516.6 million units - of PCRT upon completion of the offering. Together with the additional units...
Singapore's next big listing, Perennial China Retail Trust (PCRT), is hopping on board the transportation phenomenon that is sweeping over China. Plans for developments in high-speed rail are already underway across the country, such as the line between Beijing and Shanghai which cuts travel time in half. PCRT may not be involved in the development of such tier one city stations but it does have...
Perennial China Retail Trust, a unit of property investment firm Perennial Real Estate, on Thursday said that it aimed to raise S$1.1 billion through an initial public offering via a business trust in Singapore, making it the first of several big ticket listings planned in the city state this year. In a prospectus filed with the Monetary Authority of Singapore, Perennial China Retail Trust said that it...