UK's Abrdn Property Income rises after merger with Custodian Property

Custodian Property Income Reit

19/01/2024 08:45

** Shares of Abrdn Property Income Trust  APIA.L  up 18.75%
at 57.37p
    ** Stock second-highest pct gainer on FTSE small-cap index
 .FTSC 
    ** Co to merge with real estate investment trust Custodian
Property  CREI.L  
    ** Adds under merger, APIA shareholders to get 0.78 new CREI
shares for each of their own
    ** Deal represents around 29% premium to APIA's closing
price of 48 pence
    ** Stock lost 15% in 2023



 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))