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Amova adds to Frencken and UI Boustead Reit positions
['Geoff Howie']
The Business Times
Jardine Matheson Holdings repurchased more than 3.7 million shares for around US$270 million at an average price of US$71.41 per share.
Hongkong Land repurchased more than 27 million shares for around US$210 million at an average price of US$7.63 per share.
Vietnam and Thailand have been identified as key growth markets, supported by a call option over a 30 per cent interest in All-Link Vietnam.
Amova first emerged as a substantial unitholder in March with a 5.1 per cent interest, and subsequently increased its deemed interest to 6.38 per cent in May.
The Reit is pursuing inorganic growth through development partnerships alongside its sponsor, including a 24.26 per cent interest in the UIB Konan Phase 3 logistics development in Japan and a 51 per cent interest in a build-to-suit aerospace facility in Seletar Aerospace Park.