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Wee Hur shares surge some 11% after it announced disposal of stake in its Australia PBSA portfolio

Felicia Tan
Felicia Tan4/22/2022 02:26 PM GMT+08  • 5 min read
Wee Hur shares surge some 11% after it announced disposal of stake in its Australia PBSA portfolio
Wee Hur's Unilodge properties in Brisbane and Adelaide. Photo: Wee Hur
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Investors are positive on Wee Hur Holdings’ latest development as shares in the company surged 11.11% to an intra-day and 52-week high of 22 cents from its last-closed price of 19.8 cents.

Earlier in the day, Wee Hur Holdings announced that it has disposed of its 49.9% stake in its Australia purpose built student accommodation (PBSA) portfolio for A$567.9 million ($573.6 million), which values the entire portfolio at A$1.14 billion.

The stake will be acquired by a purchaser that’s backed by a global institutional investor.

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