Centurion Accommodation REIT up 9.1% on SGX debut

It closed at $0.96 per unit.

Centurion Accommodation REIT (CAREIT) has begun trading on the Singapore Exchange Main Board under the stock code 8C8U, closing at $0.96 per unit. This is 9.1% above its initial public offering (IPO) price of $0.88.

More than 82 million units changed hands on its first day of trading.

The IPO, which raised approximately $771.1m, received strong investor interest.

The international placement of 248.96 million units was around 16 times subscribed, whilst the public offering of 13.2 million units in Singapore was 30.9 times subscribed.

CAREIT is Singapore’s first pure-play purpose-built living accommodation REIT, with assets in worker accommodation in Singapore and student accommodation in the UK and Australia.

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