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    -17.4 (-0.56%)
     
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Name Last Change
LionGold0.001-
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World Indices
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Nasdaq 7,751.8 -239.6
HSI 26,179.3 +130.6
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Jakarta 6,255.6 +16.4
Nikkei 225 20,710.9 +82.9
SSE Comp 2,897.4 +14.0
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Shanghai B 264.6 +0.3
PSE Comp 0.0
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News - Detailed News Story

OUE

Stock Chart
Last Done 1.470
Change +0.010 (+0.69%)
Volume 35
Range 1.460 - 1.470

OUE Com Reit

Stock Chart
Last Done 0.525
Change +0.005 (+0.96%)
Volume 3,023.9
Range 0.520 - 0.525

OUE HTrust

Stock Chart
Last Done 0.730
Change - (-)
Volume 994
Range 0.730 - 0.735

Two OUE Reits join consolidation trend with proposed merger

10 Apr 2019 09:00

By Ng Ren Jye

CONSOLIDATION in the Reit sector appears to be gaining momentum - two OUE units announced a merger on Monday to create a S$6.8 billion diversified real estate investment trust (Reit) whose unit price could rise over time with increased liquidity and institutional interest.

Under the proposed scheme, OUE Commercial Real Estate Investment Trust (OUE C-Reit) will pay each holder of OUE Hospitality Trust (OUE H-Trust) stapled security S$0.04075 cash plus 1.3583 new OUE C-Reit units.

This translates to a deal valuation of S$1.49 billion, with S$74.6 million in cash and the remaining balance paid by the issue of about 2.5 billion new OUE C-Reit units to OUE H-Trust holders at S$0.57 per OUE C-Reit unit.

The S$0.57 valuation for the new OUE C-Reit units matches the theoretical ex-rights price of the Reit's recent 83-for-100 rights issue to help pay for the office components of OUE Downtown.


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Source: Business Times
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