CapitaLand Ascott Trust to Divest Somerset Olympic Tower Tianjin

MT Newswires

2024/10/23

CapitaLand Ascott Trust (SGX:HMN) agreed to divest the Somerset Olympic Tower Tianjin in China to an unrelated third party in a bid to recycle capital and enhance returns to its security holders, a filing with the Singapore Exchange said on Tuesday.

The 185-unit property will be sold at its book value, which will be disclosed upon the completion of the transaction.

The disposal is expected to be completed in the second quarter of 2025, the filing said.

Price (SGD): S$18573.13, Change: S$+33, Percent Change: +0.18%

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