SGX, on the same day, said that it does not object to the delisting of CCT from the official list of the SGX-ST, once the trust scheme becomes effective.
On January 22, CMT and CCT announced their proposal to merge into a diversified commercial real estate investment trust (REIT). The enlarged REIT will be named CapitaLand Integrated Commercial Trust (CICT), and is expected to have a market capitalisation of $16.8 billion, and combined property value of $22.9 billion.
See: CMT, CCT propose merger to create largest REIT in Singapore, third largest in Asia Pacific
Following the merger, CICT will be the largest REIT in Singapore and the third largest in Asia Pacific.
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As at 10.04, units in CMT were trading 4 cents higher, or 2.1% up, at $1.94. Units in CCT were trading 2 cents higher, or 1.2% up, at $1.66.
