Oxley requests trading halt pending proposed share placement

PROPERTY developer Oxley Holdings on Thursday morning requested a trading halt pending a proposed placement of its ordinary shares.

The proceeds from the placement, if undertaken, will go towards funding project development, working capital and general corporate purposes.

The company said that it will make further announcements of the proposed placement at the right time.

Oxley has announced a number of transactions since the start of the year. On Tuesday, it said that it was in final negotiations to sell a 300-year lease of a building in its mixed-use development, Dublin Landings, in Ireland, with total gross development value of all five buildings on the site amounting to some 835 million euros (S$1.4 billion).

Earlier in February, the developer announced it had purchased a plot in Geylang for S$13 million, with the intention of turning it into an eight-storey mixed-use development to be named Sixteen35 Residences.