Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Centurion Accommodation REIT / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/centurion-accomodation-reit" target="_blank" data-smartkarma-citation="entities:45779:1" rel="noopener">Centurion Accomodation REIT (CAREIT SP)</a> (CAREIT) plans to raise around US$600m in its Singapore listing.</li>
<li>CAREIT plans to invest directly or indirectly, in a portfolio of purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA) or other accommodation, located globally (excluding Malaysia).</li>
<li>In this note, we look at the REIT's portfolio and performance.</li>
</ul>



Centurion Accomodation REIT (CAREIT SP) (CAREIT) plans to raise around US$600m in its Singapore listing.
CAREIT plans to invest directly or indirectly, in a portfolio of purpose-built worker accommodation (PBWA), purpose-built student accommodation (PBSA) or other accommodation, located globally (excluding Malaysia).
In this note, we look at the REIT's portfolio and performance.


Centurion Accomodation REIT IPO - New Asset Class

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Back on the 18th June, personal computer parts and accessories play <a href="https://www.smartkarma.com/entities/pc-partner-group-ltd" target="_blank" data-smartkarma-citation="entities:8492:1" rel="noopener">PC Partner (1263 HK) </a> <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0618/2024061800917.pdf" target="_blank" rel="noopener">announced</a> a SGX listing was under consideration; and a possible withdrawal of the HKEx listing.</li>
<li>This development was discussed in <a href="https://skr.ma/HC3Sv" target="_blank" rel="noopener">PC Partner (1263 HK) Muses SGX Listing &amp; HKEx Withdrawal</a>.  PC Partner subsequently <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0624/2024062400546.pdf" target="_blank" rel="noopener">announced</a> a privatisation would not accompany any proposed withdrawal (should it happens).</li>
<li>My recent discussions with SFC confirms this is possible. And there was a recent precedent. But there may be caveats.</li>
</ul>


Back on the 18th June, personal computer parts and accessories play PC Partner (1263 HK)  announced a SGX listing was under consideration; and a possible withdrawal of the HKEx listing.
This development was discussed in PC Partner (1263 HK) Muses SGX Listing &amp; HKEx Withdrawal.  PC Partner subsequently announced a privatisation would not accompany any proposed withdrawal (should it happens).
My recent discussions with SFC confirms this is possible. And there was a recent precedent. But there may be caveats.


Further "SGX Listing & HKEx Withdrawal" Musings

Singapore Market Roundup, Singapore Market Roundup

Singapore Market Roundup

Thematic (Sector/Industry)

<ul><li>RHB raises Centurion's target price to $1.86, adding Perth PBSA project.</li><li>RHB calls CAREIT an appealing diversification with decent yields in an unrated report.</li><li>Analysts predict significant growth potential for LHN.</li></ul>

RHB raises Centurion's target price to $1.86, adding Perth PBSA project.RHB calls CAREIT an appealing diversification with decent yields in an unrated report.Analysts predict significant growth potential for LHN.

Singapore Market Roundup (09-Dec-2025): RHB raises Centurion's target price to $1.86 with Perth

<ul>
<li>Morningstar maintains US$7.10 target on undervalued Hongkong Land. Singapore tourism benefits from China trip cancellations, says DBS.</li>
<li>UBS values Sembcorp Industries at $7.65 due to a value unlock.</li>
<li>Analysts maintain ‘buy’ ratings on Centurion Corp after 3QFY2025 update. BRC Asia's 2HFY2025 earnings fall 5% y-o-y to $52.2 million.</li>
</ul>


Morningstar maintains US$7.10 target on undervalued Hongkong Land. Singapore tourism benefits from China trip cancellations, says DBS.
UBS values Sembcorp Industries at $7.65 due to a value unlock.
Analysts maintain ‘buy’ ratings on Centurion Corp after 3QFY2025 update. BRC Asia's 2HFY2025 earnings fall 5% y-o-y to $52.2 million.


Singapore Market Roundup (24-Nov-2025): Morningstar keeps US$7.10 target on Hongkong Land.

<ul><li>DBS reaches all-time high; UOB drops 2.8%, but OCBC's research keeps 'buy' on UOB.</li><li>Analysts split on NetLink NBN Trust; commend its stable 5.5% yield.</li><li>uSMART initiates 'buy' on Centurion Corp for its strong margins and demand.</li></ul>

DBS reaches all-time high; UOB drops 2.8%, but OCBC's research keeps 'buy' on UOB.Analysts split on NetLink NBN Trust; commend its stable 5.5% yield.uSMART initiates 'buy' on Centurion Corp for its strong margins and demand.

Singapore Market Roundup (07-Nov-2025): DBS hits record high; UOB falls 2.8%, OCBC still rates

Singapore

Centurion Corporation Limited owns, develops and manages quality, purpose-built workers accommodation assets in Singapore and Malaysia, and student accommodation assets in Australia, South Korea, the United Kingdom and the United States.

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Centurion Corp (CENTURION HK)

Centurion Accomodation REIT IPO - New Asset Class

Centurion Accomodation REIT (CAREIT SP) (CAREIT) plans to raise around US$600m in its Singapore listing. In this note, we talk about the REIT's...

Sumeet Singh

Further "SGX Listing & HKEx Withdrawal" Musings

IF a HK-listed company secures a dual-primary listing on a reputable bourse, an ordinary resolution can withdraw its HK listing. But, presuamably,...

David Blennerhassett

Singapore Market Roundup (09-Dec-2025): RHB raises Centurion's target price to $1.86 with Perth

RHB raises Centurion's target price to $1.86, highlights Perth PBSA project, and sees CAREIT as a strong diversification with good yields; LHN...

Singapore Market Roundup

Singapore Market Roundup (24-Nov-2025): Morningstar keeps US$7.10 target on Hongkong Land.

Morningstar sets a $7.10 target for Hongkong Land. DBS notes Singapore tourism gains from China trip cancellations, while UBS values Sembcorp...

Singapore Market Roundup

Singapore Market Roundup (07-Nov-2025): DBS hits record high; UOB falls 2.8%, OCBC still rates

DBS hits an all-time high; UOB falls 2.8%, but OCBC maintains 'buy' on it. Analysts are mixed on NetLink NBN Trust's yield; uSMART starts 'buy' on...

Singapore Market Roundup

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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