Hibiki Path Advisors pumps S$22.8m more into Accordia Golf Trust

JAPANESE equities-focused boutique asset management firm Hibiki Path Advisors has injected another S$22.79 million into Accordia Golf Trust, raising its stake to 6.2 per cent, up from 1.38 per cent previously.

On Thursday, Hibiki Path acquired 53 million units in the trust via an off-market transaction, according to a stock exchange disclosure.

This latest transaction valued each unit in the trust at 43 Singapore cents. 

On completing the equity injection, the asset management firm will hold 68.16 million units or 6.2 per cent equity interest in the trust, up from 15.16 million units or a 1.38 per cent stake.

Units in the trust closed at 51 Singapore cents on Thursday, down 0.97 per cent.