Suntec REIT: Aelios Pte. Ltd. Confirms No Further Price Increase on Revised Offer
Singapore – January 24, 2025: Aelios Pte. Ltd., through its joint financial advisers United Overseas Bank Limited (UOB) and DBS Bank Ltd., has announced that it will not increase its revised offer price of S\$1.19 per unit for Suntec Real Estate Investment Trust (Suntec REIT). This statement was made as part of the ongoing mandatory conditional cash offer to acquire all outstanding units in Suntec REIT not already owned, controlled, or agreed to be acquired by Aelios and its concert parties.
Key Details of the Offer
- The revised offer price stands at S\$1.19 in cash per unit, as stated in the written notification dated January 17, 2025.
- Aelios Pte. Ltd. has explicitly stated that it does not intend to increase the revised offer price, except in the event of a competitive situation.
- The offer is being conducted in compliance with Rule 14 of the Singapore Code on Take-overs and Mergers.
Implications for Shareholders
This announcement may have significant implications for Suntec REIT unitholders. By confirming the unchanged offer price of S\$1.19, Aelios signals its valuation of Suntec REIT at this price level, potentially influencing unit trading activity. Shareholders should carefully assess the offer in the context of Suntec REIT’s market performance, underlying asset value, and any competitive developments that could affect the offer dynamics.
Furthermore, the directors of Aelios have taken full responsibility for ensuring the accuracy of information provided in their announcements, including publicly available data on Suntec REIT and its subsidiaries.
Critical Points to Note
- Shareholders should be aware that the current offer price may represent the final price unless a competitive bid emerges.
- Investors are advised to monitor Suntec REIT’s market performance closely for any price-sensitive developments or announcements.
- Forward-looking statements made in the announcement are subject to risks and uncertainties, and actual results may differ materially from expectations.
Statement from Aelios Pte. Ltd.
The directors of Aelios Pte. Ltd. have reiterated their commitment to ensuring the fairness and accuracy of their disclosures, stating that they have taken all reasonable care to avoid omissions that could mislead shareholders. Information extracted from public sources has been verified for accuracy to the best of their ability.
Contact Information for Inquiries
Unitholders and investors with inquiries related to the offer can contact the following during office hours:
- United Overseas Bank Limited: +65 6539 7066
- DBS Bank Ltd.: +65 6878 6347
Disclaimer
Disclaimer: This article contains information derived from the official announcement made on January 24, 2025, by Aelios Pte. Ltd., UOB, and DBS Bank. Forward-looking statements are inherently uncertain and involve risks that may impact future outcomes. Readers are advised to consult with financial advisers before making investment decisions. The author and publisher take no responsibility for changes in market conditions or investor outcomes based on this information.
