CityDev has announced a share purchase agreement to sell its entire investment in Scottsdale Properties Pte. Ltd. to IOI Consolidated (Singapore) Pte. Ltd.
The deal involves 115,230,000 ordinary shares and 84,911,865 preference shares, representing 50.1% of Scottsdale's share capital.
The transaction, expected to complete in the second half of 2025, aligns with CDL's strategic focus on capital recycling and represents a premium over an external valuation.
CDL surges 4.21% at 2:13 pm, Jun 5th.
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