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SingHaiyi and Tangs take 9.9% stake in Cromwell Property for $172.4 mil

Property

SingHaiyi and Tangs take 9.9% stake in Cromwell Property for $172.4 mil

Michelle Zhu Published on Mon, Dec 11, 2017 / 4:42 PM GMT+8

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SINGAPORE (Dec 11): SingHaiyi Group and Haiyi Holdings have jointly subscribed to 175.1 million units of stapled securities or a 9.9% stake in Australia-listed Cromwell Property Group for A$169.6 million ($172.4 million).

Haiyi Holdings is a wholly-owned by SingHaiyi's controlling shareholders Gordon and Celine Tang.

Each stapled security comprises one ordinary share in Cromwell Corporation stapled to one unit in Cromwell Diversified Property Trust.

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