Ipo Centurion Accommodation Reit 166 Times Subscribed
Centurion Accommodation REIT (CAREIT) has successfully launched its initial public offering (IPO), with a total of 262,160,900 units sold at a price of $0.88 each. The IPO was 16.6 times subscribed, indicating strong demand from investors. Of the total units sold, 13.2 million were allocated to retail investors.
The IPO raised a total of $771.1 million and is expected to deliver a projected distribution yield of 7.47% for 2026 and 8.11% for 2027. The international placement of 248,960,900 units was oversubscribed at 16 times, while the Singapore public offer was oversubscribed at 30.9 times. This resulted in the overall IPO being 16.6 times subscribed.
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Joint chairman of Centurion Corporation, David Loh, and Han Seng Juan have acquired 10 million units and 6 million units, respectively. Other members of the Loh family, including Christine Loh, Daphne Loh, Hong Wen Yee, Loh Loy Ming, and Ivy Loh, also acquired a few thousand units each. In total, assuming the overallotment option is exercised, Loh and Han’s interest in CAREIT will be 746,317,100 units each.
The REIT has also secured 16 cornerstone investors, including FIL Investment Management (Hong Kong), abrdn Asia, and UBS, who have subscribed for a total of 614 million units, representing 35.7% of the total.
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“We are grateful for the strong support from our cornerstone, institutional, and retail investors, which reaffirms our vision to offer investors a stable and high-quality portfolio generating consistent cash flows,” says Tony Bin, CEO of the manager. He adds, “With our sponsor’s strong backing and expertise in investing and managing specialised accommodation assets, we look forward to leveraging their experience, networks, and insights to grow and manage the REIT’s portfolio.”
The units in CAREIT are expected to begin trading on Thursday, 25 Sept at 2pm.