Paragon REIT ( (SG:SK6U) ) has issued an announcement.
Paragon REIT is set to undergo privatization through a trust scheme of arrangement, as announced by its manager, Paragon REIT Management Pte. Ltd., and Times Properties Private Limited, a subsidiary of Cuscaden Peak Pte. Ltd. Morgan Stanley Asia (Singapore) Pte. is acting as the financial adviser for this transaction. The announcement indicates that the privatization will be conducted in accordance with the Singapore Code on Take-overs and Mergers, with Morgan Stanley disclosing its dealings in Paragon REIT securities, which are independent of the scheme and will not affect the scheme consideration. This move is likely to impact Paragon REIT’s market positioning by transitioning it from a publicly traded entity to a privately held one, potentially altering its operational dynamics and stakeholder relationships.
More about Paragon REIT
Paragon REIT operates in the real estate investment trust industry, focusing on managing a portfolio of income-generating real estate assets. The company is involved in the acquisition, management, and development of properties, catering to investors seeking stable returns from real estate investments.
YTD Price Performance: 0.65%
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $2.06B
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