China Real Estate Opportunities, the Chinese property fund founded by Irish multi-millionaire Richard Barrett, plans to de-list from London's Alternative investment market (Aim) in June.
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Now trading at a 70 per cent discount to its net asset value, CREO's board believes pursuing a listing in Singapore will narrow the cavernous discount. Other Asian property companies with similar assets to CREO's office and retail holdings trade much nearer NAV.
Full-year results this week valued CREO's Chinese portfolio at £840m, against a market capitalisation of just £166m. The company is progressing refinancings totalling £284m and has successfully sold several non-core investments in the period to strengthen its balance sheet.
