📢 PSA: CapitaLand will seek Shareholders’ approval of its proposed restructuring at its shareholder meetings, to be held virtually on 10 Aug 2021. Post-proposed transaction, CapitaLand’s investment management platforms and lodging business will be consolidated into CapitaLand Investment Limited (CLI) which will be listed on the SGX, while its development arm will be put under private ownership. CapitaLand Group CEO Mr Lee Chee Koon said: “This restructuring is a logical next step to accelerate the growth of CapitaLand’s businesses and drive greater shareholder value. Since announcing the Proposed Transaction, we have wasted no time in charting CLI’s growth as a leading global REIM. Since the start of the year, we have increased FUM by over S$1 billion as at 31 March 2021, with a focus on new economy assets; while announcing over S$11.2 billion in gross divestments year-to-date, three times higher than our annual recycling target of S$3 billion. We grew fee-related earnings by originating new fund products and strengthened our investment pivot towards longer-stay accommodation assets. We successfully registered ourselves as a private equity fund manager in China. All these initiatives are already contributing to net asset value upside for CLI.” “We ask for shareholders’ support in this transformative transaction. With our shareholders continuing to participate in the growth of CLI, we are confident that CLI will be able to thrive under CapitaLand’s unique ecosystem.” More info: http://bit.ly/CLESapprovalFB #CapitaLand #CapitaLandInvestment #invest #investment #realestate #business #strategic #restructure #reits #funds #fundmanagement #shareholder #global #growth
Posted 2 weeks ago
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