Boustead Soars 4.8% as Company Announces Strategic Review for Potential Asset Sale to REIT

Stock Track

13 Jun

Boustead's stock is soaring 3.20% in early trading on Friday, following the company's announcement of a strategic review for the potential sale of its stake in logistics and industrial real estate assets. The engineering and technology group is considering listing these assets on the Mainboard of the Singapore Exchange through a real estate investment trust (REIT).

The company stated that this review is part of its "ordinary course of business to periodically consider options and opportunities" in relation to its investments. The primary goal of this strategic move is to unlock shareholder value, which has evidently resonated positively with investors, as reflected in the stock's significant uptick.

This development comes at a time when REITs are gaining popularity among investors seeking stable income streams. Boustead's potential move to monetize its real estate assets through a REIT structure could provide the company with additional capital for core business expansion while offering investors a new investment opportunity in the Singapore market.

Boustead surges 4.8% at 9:30 am, Jun 13th.

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The engineering and technology group is considering listing these assets on the Mainboard of the Singapore Exchange through a real estate investment trust (REIT).</p><p>The company stated that this review is part of its \"ordinary course of business to periodically consider options and opportunities\" in relation to its investments. The primary goal of this strategic move is to unlock shareholder value, which has evidently resonated positively with investors, as reflected in the stock's significant uptick.</p><p>This development comes at a time when REITs are gaining popularity among investors seeking stable income streams. 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