Insurance and financial planning firm AIA Singapore has acquired 1,775,000 units of Mapletree Commercial Trust, a filing with the Singapore Exchange on 28 November has revealed.
The units were acquired on 24 November via a market transaction, for a total consideration of SGD2,535,587 (USD3.62 million), translating to about SGD1.42 paid per unit.
With the acquisition, AIA Singapore now has a holding of about 123.7 million units of the office and retail REIT, held through Citibank Nominees Singapore.
Consequently, parent firm AIA Company Limited’s deemed stake in the Singapore-listed REIT has increased to 173 million units, representing a stake of about 6.03%, up from 171.2 million units or a stake of 5.9% previously.
Units of Mapletree Commercial Trust finished the trading day about 1% lower from its previous close on the Singapore Exchange to end at SGD1.43.