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.
Following the merger, CICT will be the largest REIT in Singapore and the third largest in Asia Pacific.
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.
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