The manager of Centurion Accommodation REIT (CAREIT) says that its 262,160,900 units available for subscription were 16.6 times subscribed, based on indications of interest and valid applications.

 

The REIT, which is expected to commence trading on Sept 25, 2pm, is offering a total of 262,160,900 units for subscription at the price of 88 cents per unit, made up of an international placement and local Singapore placement.

 

The international placement comprises 248,960,900 units to investors outside the United States, and the remaining 13,200,000 units will be offered to the public in Singapore. This is subject to the over-allotment option of up to 51,137,000 units.

 

The indication of interest for the placement tranche was 16 times subscribed, and the indication of interest for the Singapore public offer was about 30.9 times subscribed. This has resulted in the total offering of 262,160,900 units being 16.6 times subscribed.

 

Joint chairman of Centurion Corporation David Loh and Han Seng Juan have acquired 10 million units and 6 million units respectively. Other persons, including Christine Loh, Daphne Loh, Hong Wen Yee, Loh Loy Ming, and Ivy Loh, have also acquired a few thousand units in CAREIT each, and are immediate family members of David Loh.

 

Assuming the over-allotment option is fully exercised, Loh&rsquo s and Han&rsquo s interest in CAREIT is deemed to be 746,317,100 units each.

 

The units in CAREIT are expected to commence trading on Thursday, 25 Sept at 2pm.