Paragon REIT’s privatisation points to the continued decimation of listed entities here

Instead of an initial public offering to kick off the year, the Singapore Exchange (SGX:S68) (SGX) has yet another privatisation offer. Via a Scheme of Arrangement (SOA), the owner of Paragon REIT’s manager, Cuscaden Peak, which, in turn, is equally owned by CLA Real Estate and Mapletree Investments, has offered minority unitholders 98 cents per unit. Minority unitholders will also receive their distributions per unit (DPU) of 2.33 cents, making the total price $1.0033.

The move by Cuscaden Peak follows two earlier privatisation bids launched by the controlling shareholders of SGX listcos SLB Development and Japfa (SGX:UD2) , both of which were announced on Jan 24.