- CapitaLand Investment (SGX:9CI) will be divesting its 50% stake in ION Orchard to its sponsored REIT, CapitaLand Integrated Commercial Trust (SGX:C38U), for a sales consideration of ~S$1.08bn. ION Orchard is currently held in a JV with Sun Hung Kai Properties (SHKP), which holds the remaining 50% stake.
- - Read this at SGinvestors.io -
Details of the transaction
- - Read this at SGinvestors.io -
- The sales consideration of ~S$1.08bn will be paid in cash. CapitaLand Investment has undertaken to fully subscribe to its pro-rata entitlement for the preferential offering as part of the funding for CapitaLand Integrated Commercial Trust to acquire ION Orchard.
- As of June 24, CapitaLand Investment’s stake in CapitaLand Integrated Commercial Trust was 24%.
No change in our estimates.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Darren Chan Phillip Securities Research | https://www.stocksbnb.com/ 2024-09-04
Previous report by Phillip:
2024-08-19 CapitaLand Investment - Shifting Towards Fee-Related Earnings.
Price targets by 4 other brokers at CapitaLand Investment Target Prices.
Listing of research reports at CapitaLand Investment Analyst Reports.
Relevant links:
CapitaLand Investment Share Price History,
CapitaLand Investment Announcements,
CapitaLand Investment Dividends & Corporate Actions,
CapitaLand Investment News Articles
