Paragon REIT delists from SGX-Mainboard
Paragon REIT has been delisted from the Singapore Exchange (SGX) effective June 6 due to low trading activity and limited investor interest, which hindered capital raising and portfolio expansion. Following the delisting, it will operate as a private trust and will no longer be an authorized collective investment scheme. Cuscaden Peak has offered $0.98 per unit to take the REIT private, which is 7.1% above its estimated net asset value.
The delisting took effect on 6 June.
Paragon REIT will be delisted from the official list of the Singapore Exchange Securities Trading Limited (SGX-ST) with effect from 6 June at 9:00 am.
The delisting follows the low trading activity and limited investor interest in Paragon REIT, which have made it difficult to raise capital and expand its portfolio.
Following delisting, Paragon REIT will be a private trust and will cease to be an authorised collective investment scheme.
Cuscaden Peak offered $0.98 in cash per unit to take the REIT private. The offer price is 7.1% above Paragon REIT’s estimated net asset value.
