The asset management arm of China CITIC Bank has become a substantial unitholder of Singapore-listed BGH Retail REIT.

This was after the firm acquired 68,125,000 units of the China-heavy REIT via an off market transaction on 31 March 2017, a disclosure filed with the Singapore Exchange on 4 April shows.

The units were acquired for SGD0.745 per unit, and brings China CITIC Bank Asset Management’s direct stake in BHG Retail REIT to 13.71%, from none previously.

On the same day, it was also disclosed that a former substantial unitholder, China Hi-Tech Holding Company Limited, has disposed off all 40,625,000 units of BHG Retail REIT it possesses via an off market transaction, also at SGD0.745 per unit.

As such the company, which previously had a stake of 8.18% in the REIT, has now ceased to be a unitholder.

Units of BHG Retail REIT are currently listed on the Singapore Exchange at SGD0.715.