Suntec Reit units close 4.3% higher after news of strategic review; units worth S$577 million traded
New sponsor Tang Organization is launching a review to boost portfolio performance and future distributions
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SINGAPORE] Suntec Real Estate Investment Trust (Reit) rose 4.3 per cent or S$0.06 to close at S$1.46 on Thursday (Mar 19), after heavy trading on the back of an announcement that its new sponsor, Tang Organization, plans to undertake a comprehensive strategic review of the trust’s portfolio.
By the close of trading, 343.3 million units worth S$577.7 million had changed hands. It was the day’s most actively traded stock both in terms of volume and value on the Singapore Exchange.
A block trade of 318 million units, representing over 10 per cent of the Reit’s total units in issue, were traded before the opening bell at S$1.70 apiece.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
New CPF life-cycle investment scheme could channel up to S$9 billion a year into Singapore stocks: Citi
Keppel divests i12 Katong mall for S$372 million
COEs: Mainstream car category tops bidding at S$123,010 as demand ‘just too strong’
