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