US-based insurer and financial company AIA International has acquired 457,000 units of Singapore-listed industrial REIT, Mapletree Industrial Trust, on 10 June.
A filing with the Singapore Exchange on 13 June disclosed that the units were acquired via an open market transaction for SGD1.6067 apiece, translating to a total consideration of some SGD734,261.90 paid by the insurer.
With the acquisition, AIA International now holds on to 30,964,820 units of Mapletree Industrial Trust. By virtue of this holding, parent company AIA Group Limited is now deemed to have an interest in 90.2 million units of the REIT, representing a stake of 5.0091%.
Units of Mapletree Industrial Trust finished the trading day flat from its previous close on the Singapore Exchange to end at SGD1.605.