CapitaLand and related trusts and REITs requested the lifting of trading halts after the market close on Monday.
That was following an announcement earlier Monday that CapitaLand entered a deal with Temasek’s Ascendas-Singbridge, or ASB, to acquire two subsidiaries in a deal with an enterprise value of S$11 billion.
Under the proposed deal, CapitaLand will acquire effective control of Ascendas Funds Management (S), which is the manager of Ascendas REIT, Ascendas Hospitality Fund Management, which is the manager of Ascendas Hospitality REIT, which is in turn part of Ascendas Hospitality Trust, and Ascendas Asia Real Estate Fund Management, the filing said.
The Singapore-listed company would become the manager of the three largest REITs listed on SGX: Ascendas Real Estate Investment Trust, or Ascendas REIT, CapitaLand Mall Trust, and CapitaLand Commercial Trust, it said.
After the market close on Monday, CapitaLand, CapitaLand Mall Trust, CapitaLand Retail China Trust, CapitaLand Commercial Trust, Ascott Resident Trust, Ascendas Hospitality Trust, Ascendas REIT and Ascendas India Trust all requested that their trading halts be lifted.