Nan Fung makes offer for Forterra Trust
Bid at S$1.85 per unit comes as Nan Fung's stake hits 30.79% after exercise of option
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Singapore
NAN Fung International Holdings - one of the largest privately-owned property developers in Hong Kong - has made a mandatory conditional cash offer for Singapore-listed Forterra Trust at S$1.85 per unit.
The offer, announced before market opening on Tuesday, sent Forterra units up 16 cents to a six-month high of S$1.86. The business trust is an owner, manager and developer of commercial real estate in China.
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