Singapore Labour Foundation disposes 7.2 million units of CapitaLand retail REIT

0

The government statutory board known as the Singapore Labour Foundation has disposed off 7,250,800 units of CapitaLand Mall Trust.

The units were disposed off on 7 September 2017 via an open market transaction for a total consideration of SGD14,896,678.

This translates to about SGD2.05 received per unit disposed.

The country’s Ministry of Manpower, which oversees the Singapore Labour Foundation, describes the statutory board as one that provides financial support to the National Trade Unions Congress (NTUC).

With the disposal, the statutory board now holds a remaining stake of 4.89% in the Singapore-listed retail REIT, representing a deemed interest of 173,346,944 units.

As such, the Singapore Labour Foundation is no longer considered to be a substantial unitholder in the REIT as its stake has dropped beneath 5%.

Units of CapitaLand Mall Trust last changed hands on the Singapore Exchange at SGD2.11.

A short analysis of this transaction is given in the following segment:

To read the full article, please login or register.

Share.

About Author

Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

Comments are closed.