Suntec REIT Units Acquisition Could Signal Investor Interest

In a significant development, Bank of Singapore Limited, a subsidiary of Oversea-Chinese Banking Corporation Limited (OCBC), has made a notable move by acquiring 68,000 units of Suntec Real Estate Investment Trust (Suntec REIT) on December 11, 2024. This acquisition was executed for settlement purposes pursuant to an existing derivative contract with a non-discretionary investment client, who is neither connected with the offeror nor the offeree company.

The acquisition price was set at S\$1.1824 per unit, amounting to a total transaction value of S\$80,403.20. Post-acquisition, the total number of units owned or controlled by OCBC’s group, including those on a non-discretionary basis by the dealing entity, stands at 22,547,721 units, representing approximately 0.77% of the total issued units of Suntec REIT.

This transaction is part of the Mandatory Conditional Cash Offer (MGO) by United Overseas Bank Limited and DBS Bank Ltd., acting on behalf of Aelios Pte. Ltd., in relation to the units in Suntec REIT. The MGO was initially announced on December 5, 2024.

Shareholders should note the strategic nature of this acquisition as it may reflect growing investor interest and confidence in Suntec REIT. Such acquisitions can potentially impact share values due to the perceived increase in demand for units and the strategic positioning of major financial players like OCBC in the market.

This disclosure, made in compliance with Rule 12.1 of the Singapore Code on Takeovers and Mergers, underscores the importance of transparency and regulatory adherence in financial dealings.