Wee Hur Holdings has issued a clarification that no material transactions have occurred involving its purpose-built student accommodation (PBSA) business in Australia, contrary to what was suggested by a news agency.
On Oct 15, The Australian Financial Review reported that Greystar was acquiring the group’s PBSA business. The article also claims that Wee Hur, which sold GIC a 49.9% stake in the project in April 2022, is expected to retain a stake amidst the acquisition.
In an Oct 17 release, Wee Hur says it is currently engaged in early-stage confidential discussions with a third party, which “may or may not lead to a transaction”. The group also clarifies that there “ is no certainty whatsoever that these discussions will result in any definitive agreement or transaction materialising”.
Shares in Wee Hur closed flat at 41 cents on Oct 17.
