Standard Life no longer CDL substantial shareholder after S$12.90 per share sale

Scotland-based fund manager Standard Life Aberdeen is no longer a substantial shareholder of Singapore-listed property developer City Developments.
Scotland-based fund manager Standard Life Aberdeen is no longer a substantial shareholder of Singapore-listed property developer City Developments. PHOTO: REUTERS

SINGAPORE - Scotland-based fund manager Standard Life Aberdeen is no longer a substantial shareholder of Singapore-listed property developer City Developments Ltd (CDL) after selling S$4.7 million of shares on the open market at S$12.90 apiece.

Standard Life sold the shares on Apr 19, when the shares closed at S$12.85.

The sale took Standard Life's stake to 4.9742 per cent from 5.0141 per cent, a decline of a 0.0399 per cent interest. Investors with shareholdings below 5 per cent are not considered substantial, and do not have to disclose changes in their interests.

CDL shares entered Monday's midday trading break at S$12.65, down 0.08 per cent or one Singapore cent.