US-based investment management firm BlackRock Inc. has acquired 1.67 million units of Singapore-listed retail REIT CapitaMall Trust (CMT) (SGX:C38U) through its various subsidiaries, the company disclosed on 9 March.
The units were acquired on 5 March for a total aggregate sum of SGD3.61 million, which translates to about SGD2.17 paid per unit. REITsWeek understands that the units were acquired on behalf of its clients.
BlackRock describes itself as the world's largest asset manager that provides guidance to individuals, financial professionals and institutions.
The acquisition has brought BlackRock’s total holdings in CMT to 174,498,804 units, representing a stake of 5.03% in the security. This is up from 172,828,804 units or a stake of 4.99% previously.
Units of CMT are currently listed on the Singapore Exchange at SGD2.09.