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
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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance