OUE REIT Responds to Business Times Articles on Sale of Property; Shares up 4%

MT Newswires

02/20

OUE REIT (SGX:TS0U) said that its subsidiary, OUB Centre, which holds an 81.54% stake in One Raffles Place, is conducting an exercise with United Overseas Bank to assess market interest in the property, according to a Friday filing with the Singapore Exchange.

This comes after a Business Times article reported that the REIT could be putting the property on the market for around SG$2.3 billion or SG$2.4 billion.

However, the REIT's manager said that there are no guarantees of the transaction eventually taking place.

Shares of the REIT were up over 4% in Friday trading.

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