The issuance of these CPPUs to OUECT’s sponsor was for partial payment of the purchase consideration for the trust’s stake in One Raffles Place.
SINGAPORE (Oct 4): OCBC is maintaining its “hold” rating on OUE Commercial REIT (OUECT) with a lower fair value estimate of 67 cents.
OUECT announced that it will be carrying out a redemption of 75 million convertible perpetual preferred units (CPPUs) at an issue price of $1 per CPPU.
