Insurance giant AIA International Limited has acquired 2,264,000 units of Singapore-listed, China-heavy retail and office REIT, Mapletree Greater China Commercial Trust.

The units were acquired in two tranches of 1,132,000 units each on the 24 March at an aggregate price of SGD0.96 per unit. This translates to a total consideration of about SGD2.18 million paid in the transaction.

The acquisition has increased AIA Group Limited’s deemed interest in the REIT to 139,531,000 units, representing a stake of 5.05%, up from 4.97% previously, making the insurer a substantial unitholder now.

Units of Mapletree Greater China Commercial Trust finished about 0.5% higher from its previous close on the Singapore Exchange to end at SGD0.97.