Centurion shelves proposed REIT listing

The SGX deems it a chain listing.

Centurion Corporation revealed last Friday that its proposed REIT listing will be indefinitely delayed.

Centurion noted that the SGX considers a proposed REIT listing as a chain listing, whereby the assets to be injected make up more than 50% of its revenue.

“Further to consultations with Singapore Exchange Securities Trading Limited on the Proposed REIT Transaction, the SGX-ST has responded that the proposed listing of the REIT would be considered a chain listing under Listing Rule 210(6) of the Listing Manual of the SGX-ST. Accordingly, the Company has decided to defer and reconsider the Proposed REIT Transaction to a later stage," Centurion stated.