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Singhaiyi pares stake in Cromwell Property Group for a profit

MAINBOARD-listed real estate group SingHaiyi sold some three million stapled securities of Australia-listed Cromwell Property Group on Monday for A$3.96 million (S$3.7 million), or A$1.2935 apiece.

The sale books a profit for SingHaiyi, which subscribed for 61 million Cromwell securities in Dec 2017 for A$0.9691 apiece.

SingHaiyi later acquired another 9.4 million Cromwell securities in Dec 2018 at A$0.98 apiece under a non-renounceable entitlement offer.

SingHaiyi is controlled by couple Gordon and Celine Tang.

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