25 Apr '13, 5am

UPDATE 1-Croesus bets on Japan growth, REIT demand with $292 mln Singapore IPO

HONG KONG, April 25 (Reuters) - Japan-focused Croesus Retail Trust (CRT) launched a $292 million Singapore IPO on Thursday, looking to benefit from demand for high-yield securities and an expected increase in consumer spending in the world's third-largest economy. The deal comes as a surge in demand for real estate investment trusts (REITs) pushed Singapore's REIT index to an all-time high last week. It also looks to capitalize on renewed optimism over Japan's economy on the back of Prime Minister Shinzo Abe's aggressive fiscal and monetary expansion campaign. Japan's consumer confidence index hit its highest in more than five years in February and many analysts see that as a sign that the economy is recovering. CRT, which owns four shopping malls in Japan, is offering 391.1 million units at a price of S$0.93 each, putting the total deal at S$363.7 million ($292.4 million)...

Full article: http://finance.yahoo.com/news/1-croesus-bets-japan-growth...

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