Brief: Boustead Projects To Fully Divest Property On Braddell For S$121 Million

Boustead Projects

22/10/2021 16:06

Oct 22 (Reuters) - Boustead Projects Ltd  BOUS.SI :
    * TO FULLY DIVEST PROPERTY ON BRADDELL TO BOUSTEAD
INDUSTRIAL FUND
FOR S$121 MILLION
    * EXPECTED NET PROFIT ATTRIBUTABLE TO BOUSTEAD PROJECTS FROM
TRANSACTIONS ARE ABOUT S$6 MILLION
    * BOUSTEAD PROJECTS' 50% PROPORTIONAL SHARE OF CONSIDERATION
IS
S$60.5 MILLION
    * PROPOSED DIVESTMENT & PROPOSED SUBSCRIPTION ARE EXPECTED
TO HAVE
POSITIVE MATERIAL IMPACT ON PROFITABILITY OF BP GROUP IN FY22
    * TO FUND ACQUISITION BIF TO RAISE AGGREGATE OF S$67.6
MILLION
THROUGH ISSUANCE OF S$55 MILLION OF 7% NOTES DUE 2031 AND S$12.6
MILLION IN NEW UNITS IN BIF

Source text for Eikon:  ID:nSNbhS4j1 
Further company coverage:  BOUS.SI 

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