Arkonska Business Park, a mainly office property that has been acquired by Cromwell European REIT. (Photo: Google Maps)

Cromwell European REIT finished the trading about 4.5% lower from its previous close on 21 December, as 600,834,459 units of the security see their first day on the Singapore Exchange (SGX).

The units have been issued in pursuant to an equity fund raising exercise that was first announced by the REIT in October 2018.

The exercise raised some EUR224.1 million (USD254 million) for Cromwell European REIT to partially fund its acquisition of 23 properties across the Netherlands, Finland, Poland, Italy, and France.

Read: Cromwell European REIT to acquire 23 properties for EUR384 million

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.