China tycoon sells S$14m of ESR-Reit and IReit units in a fortnight
Tong Jinquan has pared his stake in ESR-Reit from 30.74% to 29.73% and in IReit from 34.4% to 32.89%
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CHINESE tycoon Tong Jinquan has sold nearly S$14 million worth of units in Singapore-focused industrial landlord ESR-Reit and European commercial Reit IReit Global over the past two weeks, amid a broad Reit sector sell-off.
Disclosures filed with the Singapore Exchange show him paring his stake in ESR-Reit from 30.74 per cent two weeks ago to 29.73 per cent as at March 20. In all, he has sold 35.6 million units for about S$10 million, in five transactions and at lower prices each time.
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