DBS Bank has increased its stake in Netlink NBN Trust to 1.217% after buying 500,000 units in the latter via the open market.
DBS made the transaction on Feb 17, buying the units for $427,500 or 85.5 cents apiece.
On Feb 10, Netlink announced its results for the 9MFY2024 ended Dec 31, 2024. Revenue for the period dipped by 0.4% y-o-y to $308.2 million due to lower non-RAB revenue. The lower revenue was attributed to lower ancillary project revenue, partially offset by higher installation-related revenue. RAB revenue remained stable. RAB refers to regulated asset base.
Shares in Netlink closed 0.5 cents lower or 0.58% down at 85.5 cents on Feb 24, or 1.72% down year-to-date.
