Soilbuild REIT's Eightrium in Changi Business Park (Photo: REITsWeek)

DBS Bank Ltd has acquired 434,300 units of Singapore-listed industrial property and business park landlord, Soilbuild REIT.

The units were acquired via an open market transaction for 9 June for SGD301,858 (USD219,118), which translates to about SGD0.69 paid per unit.

As a result of the transaction, the total number of units held by DBS has now increased to 52,750,047 units, up from 52.315,747 previously.

The transaction also brings DBS’ stake in Soilbuild REIT to 5.03%, up from 4.99% previously.

With the crossing of the 5% threshold, DBS has thus become a substantial unitholder of the REIT.

Units of Soilbuild REIT last changed hands on the Singapore Exchange at SGD0.71.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.