Tuesday, 16 July 2013

Boustead to buy back its plantation REIT

Sources said that Al-Hadharah Boustead REIT will be taken private by its parent company, Boustead Holdings Bhd, making it the first REIT in the country to be privatised. They speculated that the rationale for the exercise was the illiquid nature of Al-Hadharah’s shares. Boustead is likely to justify the exercise as an opportunity for shareholders to cash out at a price that was higher than the REIT's market value. Al-Hadharah, listed in 2007, is the country’s first Islamic plantation-based REIT and invests largely in plantation estates and mills. (StarBiz)

Source: CIMB Daybreak - 16 July 2013

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