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Paragon Reit jumps 11.8% on privatisation offer

This is after the manager announces that it received a S$0.98-per-unit privatisation offer from Times Properties

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Chong Xin Wei

Chong Xin Wei

Published Tue, Feb 11, 2025 · 02:17 PM
    • The privatisation scheme would allow unitholders “to realise their investment in cash at an attractive valuation with no trading costs”.
    • The privatisation scheme would allow unitholders “to realise their investment in cash at an attractive valuation with no trading costs”. PHOTO: BT FILE

    UNITS of Paragon Real Estate Investment Trust (Paragon Reit) jumped on Tuesday (Feb 11) after the manager announced that it received a S$0.98-per-unit privatisation offer from Times Properties.

    The counter surged 11.8 per cent or S$0.105 to S$0.995 after the mid-day trading break, during which its trading halt was lifted. The Reit manager had called for a trading halt in the morning to announce the privatisation offer and its full-year earnings.

    The last time Paragon Reit traded at such levels was in January 2023. By 2.03 pm, the counter was up 11.2 per cent or S$0.10 at S$0.99.

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