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Listing of student accommodation assets 'a possibility': SPH
LISTING its purpose-built student accommodation assets is "a possibility", among other opportunities it seeks to improve shareholder value, said Singapore Press Holdings (SPH) on Thursday.
Its statement came after Bloomberg on Thursday - citing sources close to the matter - reported that SPH is planning to list those UK-based assets in Singapore through a real estate investment trust, in a deal that would value those properties at more than US$1 billion.
According to the sources, the plans are still at preliminary stages and the exact size and timing of the transaction have yet to be finalised.
Referring to the media reports, SPH said: "The company is always considering and looking out for opportunities to improve shareholder value, including the possibility of listing its PBSA (purpose-built student accommodation) assets, to achieve its corporate objectives."
The company will make an announcement if there is any material development on this matter, it added.