US-headquartered multinational investment management company BlackRock Inc has acquired 1,084,000 units of Singapore-listed retail REIT Capitamalls Trust (CMT) (SGX:C38U).
The units were purchased on 2 October via a market transaction for a total sum on SGD2,096,247. This translates to about SGD1.93 per unit.
The purchase has lifted PNC Financial Services Group, which holds a more than 10% stake in BlackRock, to the status of a substantial unitholder.
The American financial services corporation is now deemed to have a 5.01 stake in CMT by virtue of the 173.3 million units held by BlackRock and its subsidiaries such as BlackRock Fund Advisors and BlackRock Financial Management Limited.
Units of CMT are currently listed on the Singapore Exchange at SGD1.93.