CDL Surges 4.21% for Selling 50.1% Stake in Scottsdale Properties to IOI Consolidated

Reuters

06-04

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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Ltd. to IOI Consolidated (Singapore) Pte. Ltd. </p><p>The deal involves 115,230,000 ordinary shares and 84,911,865 preference shares, representing 50.1% of Scottsdale's share capital. </p><p>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.</p><p>CDL surges 4.21% at 2:13 pm, Jun 5th.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/53e3d6d871e3b6b24c7185f28de264ac\" tg-width=\"894\" tg-height=\"642\"></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK6512","symbol_name":"房地產股","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250604:nNDLbBVJMr:1","article_id":"2540039206","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2540039206","pubTimestamp":1749019161,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"City Developments Ltd.  has announced a share purchase agreement to sell its entire investment in Scottsdale Properties Pte. 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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.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding,movement","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}