SPH to spin off Paragon and The Clementi Mall in billion-dollar retail Reit
MEDIA group Singapore Press Holdings will be spinning off a real estate investment trust (reit) of its retail malls, it announced Monday evening.
It has received a listing eligibility from the Singapore Exchange.
Chief executive Alan Chan said: "We plan to inject Paragon and The Clementi Mall into SPH Reit."
SPH is expected to hold about 70 per cent of the units in the Reit, and plans to declare a special dividend of 18 cents.