US-based wealth management firm BlackRock Inc has indirectly acquired 20,191,000 units of Singapore-listed Croesus Retail Trust via a private placement, a disclosure filing on the Singapore Exchange on 6 April has revealed.
The units were acquired through the private placement exercise that was first announced by Croesus Retail Trust on 23 March. The exercise, which saw the listing of 70 million new units on the Singapore Exchange on 4 April, was conducted to raise some SGD50.9 million for the trust.
Total consideration paid for the private placement units was SGD 15,143,250, translating to about SGD0.75 paid per unit.
With the acquisition, BlackRock now has a deemed interest in 43,912,211 units of Croesus Retail Trust, representing a stake of about 6.14%, up from 3.67% previously.
Units of Croesus Retail Trust finished the trading day 1.25% higher from its previous close on the Singapore Exchange to end at SGD0.81.