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DBS sells 500,000 units in CLAR for $1.5 mil

Ashley Lo
Ashley Lo • 1 min read
DBS sells 500,000 units in CLAR for $1.5 mil
Following the sale, DBS’s stake in CLAR came up to 0.825%. Photo: CLAR
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DBS Bank has sold 500,000 units in CapitaLand Ascendas REIT A17U

(CLAR) to the open market. 

The sale, which was conducted on Sept 9, netted the bank $1.5 million, or $2.91 per unit.

Following the sale, DBS’s stake in CLAR came up to 0.825%. 

Prior to the transaction, DBS sold 1 million units on Aug 26 for $2.87 million, or $2.87 per unit. 

On Sept 4, however, the bank purchased 675,000 units in CLAR, for a purchase consideration of $1.88 million, or $2.79 apiece. This increased the bank’s stake to 0.849%. 

CLAR reported a distribution per unit (DPU) of 7.524 cents for 1HFY2024 ended June 30, marking a 2.5% y-o-y decline. 

See also: Noel Gifts International’s CEO ups direct stake to 29.58%

However, revenue for the same period increased by 7.2% y-o-y to $770.1 million, on the back of full contributions from the REIT’s acquisitions in Singapore, which were completed during 1HFY2023. 

Units in CLAR closed 3 cents higher, or up 1.03%, at $2.94 on Sept 16. 

 

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