CityDev falls 3.6% on removal from FTSE EPRA/NAREIT Global Developed Index

CITY Developments plunged 3.6 per cent in early trade on Friday on news of its imminent deletion from the FTSE EPRA/NAREIT Global Developed Index.

FTSE announced the planned deletion on Thursday, following the quarterly review for the FTSE EPRA/NAREIT Global Real Estate Index, Asia region. All changes are effective as of Monday, June 22, 2015.

After falling to S$9.70 a share, CityDev was trading around S$9.85 a share by 9.45am, down 34 Singapore cents, or 3.3 per cent. More than 3 million shares changed hands.