trending Market Intelligence /marketintelligence/en/news-insights/trending/ww3rkhg1ztczvp2haptlua2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Saizen REIT signs implementation deal for reverse takeover

IFRS 9: Time is Running Out for Insurance Companies to Comply

5 Quant Research Traps to Avoid

Wind Power by the Numbers: U.S., Canada and Mexico

CUSIP Identifier Requests for New U.S. Corporate Debt Surge in January

Saizen REIT signs implementation deal for reverse takeover

Saizen Real Estate Investment Trust signed an implementation deal with Sime Darby Property Singapore Ltd. for a reverse takeover of the REIT.

The deal involves Saizen's acquisition of 20 industrial properties in Australia for A$355.8 million, subject to certain conditions and approvals. The Sime Darby portfolio has a total land area of approximately 1 million square meters and consists of 18 assets in Queensland and two properties in the Northern Territory.

Pursuant to the agreement, Saizen will issue new units at S$0.03604 per unit. Sime Darby Property Singapore's stake in Saizen is expected to be not less than 25.0% of the REIT's enlarged total issued units, if the transaction is completed.

Saizen expects its market capitalization to be equal to or more than S$300 million after the completed property transaction, according to a filing. The REIT's board said that the acquisition would provide Saizen with a new investment strategy, along with unlocking value for the REIT and its unit holders.

As of Oct. 10, US$1 was equivalent to A$1.31 and S$1.37.