Blackstone to Acquire iQ Student Accommodation
26th Feb 2020
Singapore Press Holdings (SPH) is considering a UK listing that would value its properties at more than USD 1 billion.
The company released a statement on the matter after Bloomberg reported that SPH was planning to list its UK-based assets in Singapore through a real estate investment trust.
Reports suggest the plans are still at preliminary stages and the exact size and timing are yet to be finalised.
Commenting on the rumours, SPH said: "The company is always considering and looking out for opportunities to improve shareholder value, including the possibility of listing its PBSA (purpose-built student accommodation) assets, to achieve its corporate objectives."
SPH is expected to make an announcement if there is any material development on the matter.
The Singaporean based company has been on a spending spree of late, snapping up seven assets in December last year for GBP 411 million.
With the recently acquired Student Castle portfolio, SPH has expanded its presence into Cambridge, Oxford, Bath, Brighton, Durham, Edinburgh, and York. The transaction more than doubled the assets under management to USD 1.5 billion.
