CREO to list on Shanghai stock market
Shares in the property company, which is 57% owned by Dublin-based Treasury Holdings, were trading at £3.50-£3.60 (c€4) on London’s AIM yesterday, even though their net asset value was around £10 (€11.40) a share at its last interim report in August 2009.
The company plans to switch its listing to Singapore in the next six months, and to restructure as a “business trust” under Singapore law. The company believes this move will ensure an instant share price jump as Asian investors will have a better awareness of the real value of CREO’s portfolio.
