HK's Spring REIT hits record high on RE Strategic's buyout offer

Spring Real Estate Investment Trust

26/09/2018 07:16

** Units of Spring Real Estate Investment Trust  1426.HK 
(Spring REIT) jump 43.3 pct to all-time high of HK$4.30 
    ** RE Strategic Investments Pte Ltd makes conditional cash
offer to buy all outstanding units it does not already own in
Spring REIT at HK$4.85 per unit  urn:newsml:reuters.com:*:nFWN1WB0O3
    ** Offer price represents 61.7 pct premium to previous close
    ** Spring REIT last up 30.7 pct at HK$3.92; on track for 
biggest daily pct gain in nearly 5 years
    ** Singapore-incorporated RE Strategic, which is owned by
private equity group PAG, currently owns 14.818 pct of Spring
REIT  
    ** As of last close, Spring REIT had declined 11.76 pct this
year
    ** Spring REIT has underperformed the Hang Seng Finance
Index sector  .HSNF  by 11.2 pct points in the past month

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)