A subsidiary of Credit Suisse AG borrowed 12.1 million units of Singapore-listed industrial REIT Cambridge Industrial Trust (CIT) (SGX:J91U), a filing made on the Singapore Exchange (SGX) has disclosed.

The transaction, disclosed in the SGX filing on 3 November, was completed just days prior on 30 October. Besides the 12.1 million units borrowed, Credit Suisse Group also purchased 16,000 units in the security in an open market transaction. However it is unclear as to who the borrowed units were obtained from.

The transaction has increased Credit Suisse’s stake in the REIT to 73.8 million units representing a stake of 5.8%.

Units of CIT are currently listed on the SGX at SGD0.69.