* Units trade at 0.55 euro vs 0.55 euro listing price
* REIT comprises office, logistics, retail assets in Europe (Adds data on exchange listings, details of Cromwell IPO)
SINGAPORE, Nov 30 (Reuters) - Units of Cromwell European Real Estate Investment Trust (REIT) were trading at their offer price on their market debut on Thursday, after a 556 million euro ($659.5 million) initial public offering (IPO) in Singapore.
The listing marked the city-state’s biggest year since 2013 in terms of money raised via IPOs, Thomson Reuters data showed. Companies have raised about $3.22 billion via IPOs this year on the Singapore exchange, a global hub for REITs and property companies.
Cromwell European REIT, sponsored by Australia’s Cromwell Property Group, had offered 428.5 million units at 0.55 euros each. Separately, cornerstone investors, which include Hillsboro Capital Ltd and Cerberus Singapore Investor LLC, agreed to subscribe to 581.82 million units.
Hillsboro Capital is the private investment holding firm for Philippine billionaire Andrew Tan.
The IPO was smaller than the up-to 927 million euro listing that Cromwell put on hold in September citing market conditions.
Cromwell European REIT units were trading at 0.55 euros on Thursday afternoon. The REIT comprises office, retail and logistics assets in Europe.
($1 = 0.8431 euros)
Reporting by Aradhana Aravindan; Additional reporting by Patturaja Murugaboopathy; Editing by Muralikumar Anantharaman