Quarz ups stake slightly in Sabana Reit

Published Tue, Sep 15, 2020 · 09:50 PM

Singapore

QUARZ Capital has raised its stake in Sabana Reit slightly from 5 per cent as it stood in late July to 6 per cent on Monday.

A disclosure filed to the Singapore Exchange showed that the latest transaction by the investment management firm was a purchase of 15,000 shares in the Reit for S$5,625.

In a statement, Quarz's chief investment officer Jan Moermann said: "Having increased our stake, Quarz and Black Crane reiterate our intention to vote down the proposed Sabana-ESR-Reits' merger at the current transaction terms." He noted that Reits generally trade on distribution per unit (DPU) and dividend yield, yet in its historical gross exchange ratio (GXR) analysis, Sabana Reit'…