Wee Hur Refutes Claims of Selling Purpose-Built Student Accommodation; Shares Surge 5%

MT Newswires

2024/10/18

Wee Hur (SGX:E3B) has denied reports claiming that the property investment firm has agreed to sell its purpose-built student accommodation business to Greystar, according to a bourse filing with the Singapore Exchange on Thursday.

Responding to an article which claimed that Greystar has secured exclusivity over to acquire the business, the company said that "there have been no significant transactions".

The company is currently at an early stage discussions with a third part but has not given any guarantees as to whether an acquisition will happen, according to the filing.

Shares of the property investment firm surged nearly 5% in recent trading.

Price (SGD): S$0.43, Change: S$+0.020, Percent Change: +4.88%

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