CapitaLand Mall Trust and CapitaLand Commercial Trust gained 3.7% and 2.5% w-o-w following the Singapore Exchange’s (SGX) approval in-principle to CMT’s manager to list new units of CMT as part consideration for the merger between CMT and CCT.
See: CMT to list 2.78 bil new units following SGX approval; CCT to delist
Both trusts announced their proposal to merge into a diversified REIT on January 22.
Stocks such as DBS Group Holdings, the Oversea-Chinese Banking Corp (OCBC), and Singapore Airlines, which were down the week before, also saw gains of 1.2%, 1.6%, and 0.8% respectively.
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