CapitaLand Investment - Phillip Securities 2024-09-04: Divesting ION Orchard

• 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 an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2025-05-02 CapitaLand Investment - Resilience Anchored By Recurring Fees.

Previous report by Phillip:
2025-03-17 CapitaLand Investment - Next Phase Of Growth.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
CapitaLand Investment News