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|PERENNIAL CHINA RETAIL TRUST
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|Author:||mkttalk [ June 22nd, 2011, 11:00 pm ]|
|Post subject:||PERENNIAL CHINA RETAIL TRUST|
PERENNIAL CHINA RETAIL TRUST IPO
Perennial China Retail Trust ("PCRT") is Singapore's first pure-play PRC retail development trust listed on the Main Board of the SGX-ST. The Trustee-Manager's key objective is to provide unitholders of PCRT with (i) long-term capital growth from a steady growth in net asset value through acquiring attractively-priced predominantly-retail development projects and the on-going value creation of PCRT's assets and (ii) regular distributions from the income of its completed and stabilised assets.
PCRT's initial property portfolio comprises five properties in Shenyang, Chengdu and Foshan, valued at approximately S$1.1 billion (approximately RMB5,898.0 million), which is expected to have an aggregate gross floor area of approximately 960,899.0 square metres.
PCRT is sponsored by Perennial Real Estate Pte. Ltd., a Singapore-registered company founded by retail real estate veteran Mr Pua Seck Guan. PCRT is managed by Perennial China Retail Trust Management Pte. Ltd., which will on listing be a joint venture majority-owned by the Sponsor, and with the remaining stakes held by Ace Best Holdings Limited, which is part of Nan Fung Group, and Asdew Acquisitions Pte Ltd.
|Author:||slt [ September 12th, 2011, 7:44 am ]|
|Post subject:||Re: PERENNIAL CHINA RETAIL TRUST|
Published September 12, 2011
By ROBERT HALILI
CEO Pua Seck Guan recorded his first on-market trades in retail development play Perennial China Retail Trust since the Reit was listed on June 9, with an initial 500,000 units purchased from Sept 7 to 8 at 51 cents each. The units bought represented 0.04 per cent of the issued capital. He also has deemed interest of 41.47 million units or 3.7 per cent. The acquisitions were made after the Reit fell by 9 per cent from 56 cents on Aug 16. The counter is also down since July from 65.5 cents. Not surprisingly, the CEO's purchase price was lower than the IPO price of 70 cents.
Also positive this year is Asdew Acquisitions Pte Ltd with 8.0 million units purchased on June 9 at 63 cents each, which boosted its direct holdings by 7 per cent to 120.2 million units or 10.7 per cent. Prior to that trade, the group acquired an initial 112.2 million units or 10.0 per cent via a cornerstone subscription agreement on May 11 at 70 cents each. The Reit closed at 51 cents on Friday.
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