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Singapore Exchange (SGX) today welcomed Sasseur REIT to its Mainboard under the stock code “CRPU”.
Sasseur REIT is the first outlet mall REIT to be listed in Asia. It has an initial portfolio comprising four retail outlet malls strategically located in fast growing cities in Chongqing, Bishan, Hefei and Kunming in the People’s Republic of China (PRC). Its outlet malls provide an array of entertainment and lifestyle amenities as well as luxury and high-end brands at largely discounted prices.
Anthony Ang Meng Huat, Chief Executive Officer of Sasseur Asset Management Pte. Ltd., the manager of Sasseur REIT, said, “We are delighted to bring Asia’s first outlet mall REIT to market with the successful listing of Sasseur REIT today. Our strong line-up of cornerstone investors, and the positive demand from institutional and retail investors alike, are testament to the confidence in Sasseur REIT’s unique investment proposition, which offers investors the opportunity to invest in China's fast-growing outlet market. Moving forward, we will leverage our Sponsor’s experience and unique business DNA, which combines art and commerce in the outlet malls to offer an integrated lifestyle and outlet shopping experience for consumers, and take active steps in executing our key strategies to provide stable and growing distributions to Unitholders.”
Simon Lim, Head of Equity Capital Market (Sectors) at SGX, said, “We are pleased to welcome Sasseur REIT, Asia’s first outlet mall REIT listing, offering investors the opportunity to invest in PRC’s fast-growing retail outlet mall sector, at a time when the market is experiencing high consumption levels and presents huge growth potential.”
With a market capitalisation of about S$944 million, the listing of Sasseur REIT brings the total number of REITs and property trusts listed on SGX to 43, with a combined market capitalisation of over S$93 billion.
SGX is the largest REIT platform in Asia ex-Japan, with more than 70% of SGX-listed REITs and property trusts owning assets outside of Singapore. Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of close to S$200 billion.
Sasseur REIT opened at S$0.805 today.
