New York-based investment management firm BlackRock Inc. ceased to be a substantial unit holder in Singapore-listed Retail REIT CapitaMall Trust (CMT)(SGX:C38U) effective 30 January.
A substantial unit holder is defined as a person or entity holding on to more than 5 per cent stake in the REIT.
|Units of CapitaMall Trust have fallen 22% since May 2013.
The asset management firm, through its various subsidiaries, previously had a holding of 176.37 million units in CMT translating to a stake of 5.1 per cent. The company disposed off 7.09 million units as change in collateral last Thursday. This effectively reduces its stake in the REIT to 169.2 million units - a stake of 4.9 per cent.
Further disposals of units in the REIT by BlackRock now need not be reported to the Singapore Exchange (SGX) until it resumes to be a substantial unit holder.
Units of CMT are trading close to its 52-week low of SGD1.81, closing at SGD1.85 on the SGX on 4 February. This is unchanged from its close in the previous day. The REIt has fallen some 22 per cent since May 2013 to date.