OUE REIT Responds to Business Times Articles on Sale of Property; Shares up 4%
MT Newswires
Feb 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.