SINGAPORE (June 26): Singapore’s labour movement, the National Trade Union Congress, is no longer a substantial shareholder in SPH REIT.

This followed NTUC’s June 17 sale of 400,000 units for $355,960, or an average of 88.99 cents per unit, in the open market.

With the sale, NTUC now holds a deemed stake of just over 137.9 million shares, which translates to 4.998%, from 5.012% earlier. Under Singapore Exchange rules, NTUC is not obliged to declare further sales of units in SPH REIT as it has dropped below the 5% threshold which defines “substantial shareholders”.

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