CDL admits IPO application for S-Reit with UK assets

The company said that relevant applications have been made to regulatory authorities.

City Developments Limited have confirmed reports that it has applied for an initial public offering (IPO) for a Reit with commercial assets in the UK, to be listed on the main-board of the Singapore Exchange.

The company said that the proposed IPO and listing on the SGX-ST of the REIT is subject to, amongst others, market conditions, the requisite regulatory and other approvals being obtained and the execution of definitive agreements by the relevant parties.

However, CDL emphasized in an announcement that no decision has been made as to whether the transaction will take place and there is currently no certainty that the company will proceed with the offering.

“In the event that there is any material development on this matter, an announcement will be issued by the company. In the meantime, shareholders are advised to refrain from taking any action in respect of their shares or other securities in the company which may be prejudicial to their interests, and to exercise caution when dealing in the shares or other securities of the company,” the company said.