Australia: Crown Group plans to list in either Singapore, Hong Kong or Shanghai

Australia-based property development group Crown Group Holdings is planning its dual listing in both locally and in either Singapore, Hong Kong or Shanghai, according to a report.

Iwan Sunito, CEO, Crown Group Holdings, had announced the company’s plans to list in two exchanges when he was in Singapore last Tuesday to liaise with executives from the SGX. The purpose of the meeting was to find out what the exact prerequisites Crown Group would need to fulfill in order to list on the SGX Mainboard.

Sunito, who also met with potential investors, said that the company intends to raise over $1 billion, if it chooses to list in Singapore, in an interaction with the Straits Times. However, he added that $500 million will be “good enough to start with”.

He continued, “You don’t need all the money to come from the listing. There are joint venture partners you can tap to grow the company.”

He also highlighted his preference for Singapore, over contenders Hong Kong and Shanghai, citing proximity as one of the reasons. The group had just announced that it will be launching its first property project in Indonesia next year. Moreover, Crown Group already has an office in Singapore.

However, if its partners succeed in raising capital from Shanghai or Hong Kong, Sunito is open to listing the company in those markets instead.

According to the Straits Times, around 70 per cent of Crown Group’s clients are Australians. The remaining 30 per cent is split between Chinese, Singaporeans, Indonesians and Malaysians.

The listing itself is set for 2018.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.