Straits Trading Co shares jump 13.8%

Singapore

SHARES of The Straits Trading Company rose 13.8 per cent on Thursday, after it was reported that ESR Cayman was acquiring 100 per cent of the share capital of ARA Asset Management for US$5.2 billion.

Straits Trading, which holds 18.97 per cent in the integrated real estate fund manager, had separately announced before the market opened that it would receive US$845.3 million in a combination of cash, shares of Hong Kong-listed ESR and vendor loan notes upon completion of the transaction.