In a quest to tap stronger capital flows and a deeper investor base in Asia, China Real Estate Opportunities (CREO), one of the biggest firms in London’s AIM (Alternative Investment Market), may give up its UK listing to be quoted in Singapore.
The company, which owns around £840 million ($1.78 billion) worth of Chinese office, residential and retail properties, will consult investors on the move that it said may help narrow the gap between share price and net asset value.
“The company has made a non-binding submission to…secure approval for admission to Singapore’s internationally recognised main board so as to position the company closer to its asset base and potentially re-rate the shares in line with CREO’s peer group listed in Asia,” it said. The company could be delisted from AIM by June, if shareholders approve such a move.
CREO is the latest among other companies to consider leaving AIM to attract new shareholders and enhance liquidity.