SINGAPORE - Australia-listed Cromwell Property Group said on Thursday (Aug 24) it has received the go-ahead from the Singapore Exchange to lodge a prospectus for the initial public offering (IPO) of Cromwell European Real Estate Investment Trust.

If all goes according to plan, the prospectus will be lodged in early September and the IPO will occur at the end of next month.

The SGX has issued its Eligibility-To-List with regard to the proposed IPO.

The estimated offering size is about 1 billion euros (S$1.6 billion).

As earlier reported by The Straits Times, this Reit would comprise European properties with a focus on Europe's smaller cities.