Changjiang's RTO deals include another property

Singapore

CHANGJIANG Fertilizer Holdings, a cash company whose share trading has been suspended since April 17, 2015, has taken another step in its bid to transform itself into a real estate developer and investor.

It announced on Tuesday a proposal to acquire a 50 per cent stake in privately-held Chiu Teng 8 (CT8) - the developer of a light industrial building known as Tagore 8 - for S$9.67 million. This transaction, together with two other proposed acquisitions announced in April this year, will constitute a very substantial acquisition or a reverse takeover (RTO) if all of the proposed deals proceed to completion, said Changjiang.

The two other deals that were unveiled in April involve the proposed buy-out of privately-held WBH Investments and Cowealth Investments at S$13.8 million each. WBH and Cowealth are ho…