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Takeover offer made for Indiabulls property trust at 90 cts apiece

The offeror and parties aim to delist the business trust from the SGX

Anita Gabriel

Published Thu, Oct 12, 2017 · 09:50 PM

Singapore

A TAKEOVER offer of S$306 million has been made for Indiabulls Properties Investment Trust (IPIT) by the Indiabulls Group at 90 Singapore cents apiece, in a move that will lead to the delisting of the business trust from the Singapore Exchange (SGX).

Some deem the development as good riddance - and it is hard to fault this view, given that since its 2008 listing on the SGX at S$1 a unit, IPIT has been on the receiving end of scorn - share price under-performance being one key reason.

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