SHAREHOLDERS of ARA Asset Management will increase their stakes in the real estate fund manager through a series of secondary transactions, the company said on Tuesday. Read more at The Business Times.
SHAREHOLDERS of ARA Asset Management will increase their stakes in the real estate fund manager through a series of secondary transactions, the company said on Tuesday.
Private equity firm Warburg Pincus - ARA's largest shareholder - will substantially raise its stake to 48.7 per cent, while pre-privatisation shareholders ARA Group chief executive officer John Lim, CK Asset Holdings, and The Straits Trading Company will increase their aggregate shareholding to 51.3 per cent.Mr Lim said he would like to"register our appreciation to AVIC Trust for helping and partnering us in creating new fund products in mainland China".
The transactions will be completed by May 31, 2021. They will represent ARA's first changes to its shareholding structure since its privatisation and delisting from the Singapore Exchange in April 2017, ARA said.
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