General Announcement::News Release: SGX welcomes Eagle Hospitality Trust to Mainboard

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
24-May-2019 14:12:47
Status
New
Announcement Sub Title
News Release: SGX welcomes Eagle Hospitality Trust to Mainboard
Announcement Reference
SG190524OTHR1W51
Submitted By (Co./ Ind. Name)
Jo-Ann
Designation
Senior Associate, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) today welcomed Eagle Hospitality Trust to its Mainboard under the stock code "LIW".

Eagle Hospitality Trust has an initial portfolio of 18 full-service hotel properties, ranging from upper midscale to upper upscale hotels, located in the United States (US). All the assets in the initial portfolio, except The Queen Mary Long Beach, are branded by and operated under franchise agreements with the three largest global hotel franchisors - Marriott International, Hilton Worldwide Holdings and InterContinental Hotels Group.

Salvatore Takoushian, Chief Executive Officer and President of the Managers, said, "Eagle Hospitality Trust provides investors access to one of the world's largest and most vibrant hospitality markets. Our strategically curated and well-invested portfolio of assets offers diversified exposure to high-growth markets and multiple well-defined demand generators. Additionally, Eagle Hospitality Trust is also well-positioned to leverage the Sponsor's established network within the US hospitality sector to source for value-enhancing acquisitions."

Mohamed Nasser Ismail, Head of Equity Capital Markets, SGX, said, "We are excited to welcome to our expanding REITs family, Eagle Hospitality Trust, which meets the rising investor appetite for US real estate assets, and in particular the hospitality segment. Its successful listing demonstrates the strength and depth of SGX's REIT sector, and enhances SGX's position as the most international REITs platform in Asia."

The listing of Eagle Hospitality Trust brings the total number of SGX-listed REITs and property trusts to 44, with a combined market capitalisation of about S$100 billion. Together with real estate companies, the overall SGX real estate cluster has a combined market capitalisation of over S$180 billion. For the first four months of this year, the SGX-listed REITs and property trusts sector generated total returns of about 13%.

Eagle Hospitality Trust opened at US$0.78 today.

Attachments

20190524_SGX_welcomes_Eagle_Hospitality_Trust_to_Mainboard.pdf
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