Centurion Accommodation REIT debuts higher after Singapore's second-biggest IPO of 2025

Group 1: IPO Performance - Centurion Accommodation REIT made a strong debut, raising S$771.1 million ($598.8 million), marking Singapore's second-largest IPO this year [6] - The units opened at S$0.98, reflecting an 11.4% increase from the IPO price of S$0.88 per unit [6] - The benchmark Straits Times Index was down 0.2% at the time of trading [6] Group 2: Market Context - Singapore has raised a total of $1.46 billion in IPO proceeds year-to-date, leading Southeast Asia, followed by Indonesia at $1.24 billion and Malaysia at $982.7 million [2] - The Singapore Exchange has seen renewed interest from issuers due to measures introduced in February, including a 20% tax rebate for primary listings [4] - Recent listings include U.S. cybersecurity firm AvePoint, which became the first company to be listed on both Nasdaq and SGX [5] Group 3: Company Background - Centurion Accommodation REIT is backed by Singapore-based Centurion Corp and owns 14 assets across Singapore, the UK, and Australia, with an appraised value of approximately S$1.8 billion [6] - Cornerstone investors for Centurion Accommodation REIT include abrdn Asia, Amova Asset Management Asia, and Value Partners Hong Kong [6]