MARKETS & INVESTING | Tony Chua, Singapore

SGX lists Perennial China Retail Trust

PCRT seen to initiate the building of a more vibrant marketplace for more Manager-sponsored trusts in Singapore.

Singapore Exchange (“SGX”) welcomes the listing of Perennial China Retail Trust (“PCRT”), on the Mainboard, under the ticker symbol “N9LU”, on Thursday.

“Perennial China Retail Trust’s listing on the Main Board of the Singapore Exchange is a significant milestone not only for us but for the industry. As the only pure-play China retail real estate owner and developer listed in Singapore, PCRT offers investors the unique opportunity to participate in urbanisation-driven retail growth opportunities in China via a private-equity fund structure, typically accessible to only large institutional investors, but on a listed platform. In addition, PCRT marks the first Manager-sponsored trust in Singapore and we would like to thank MAS and SGX for their receptiveness to new ideas with the view to encourage entrepreneurship. We believe PCRT will set the stage for the building of a more vibrant marketplace for more Manager-sponsored trusts in Singapore,” said Mr Pua Seck Guan, Chief Executive Officer, Perennial China Retail Trust Management Pte. Ltd.

“We welcome Perennial China Retail Trust to the SGX family. It joins the growing rank of businesses with property and substantial assets that are leveraging on our REITs and Business Trust structure as a capital-raising avenue. As an international capital raising centre in Asia, we look forward to welcoming more of such listings on our Exchange,” said Mr Lawrence Wong, Head of Listings, Singapore Exchange.

With a market capitalisation of S$785 million, PCRT brings the total number of REITs & Property Trusts listed on SGX to 27, with a combined market capitalisation of about S$41 billion, according to an SGX report.

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