CapitaLand to sell a third of Australand stake
Sale of 20% stake could bring it A$434m; pricing expected today
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
PROPERTY developer CapitaLand has unveiled plans for a quick sale of about a third of its stake in Australian developer Australand Property Group that could fetch around A$434 million (S$507 million).
A secondary placement exercise of 115.66 million Australand stapled securities will be allocated and priced today.
The securities represent about 20 per cent of the total stapled securities issued by Australand. CapitaLand currently holds about 59.1 per cent, or 341.9 million stapled securities.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
