DBS Bank has sold 500,000 units in CapitaLand Ascendas REIT A17U (CLAR) to the open market.
The sale, which was conducted on Sept 9, netted the bank $1.5 million, or $2.91 per unit.
Following the sale, DBS’s stake in CLAR came up to 0.825%.
Prior to the transaction, DBS sold 1 million units on Aug 26 for $2.87 million, or $2.87 per unit.
On Sept 4, however, the bank purchased 675,000 units in CLAR, for a purchase consideration of $1.88 million, or $2.79 apiece. This increased the bank’s stake to 0.849%.
CLAR reported a distribution per unit (DPU) of 7.524 cents for 1HFY2024 ended June 30, marking a 2.5% y-o-y decline.
See also: Raffles Medical Group chairman ups stake to 55.592%
However, revenue for the same period increased by 7.2% y-o-y to $770.1 million, on the back of full contributions from the REIT’s acquisitions in Singapore, which were completed during 1HFY2023.
Units in CLAR closed 3 cents higher, or up 1.03%, at $2.94 on Sept 16.
