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City Developments ( (SG:C09) ) has provided an update.
City Developments Limited’s subsidiary, CDL Hotels Holdings New Zealand Limited, has completed its takeover offer for Millennium & Copthorne Hotels New Zealand Limited, increasing its stake to 83.915%. The revised offer price was set at NZ$2.80 per share, with the total cash consideration amounting to NZ$23,787,066.80. This strategic move strengthens City Developments’ position in the hospitality sector, although the company advises caution to shareholders in dealing with their securities.
More about City Developments
City Developments Limited is a real estate company based in Singapore, primarily involved in property development and investment. The company operates globally, focusing on creating sustainable and innovative spaces across various sectors including residential, commercial, and hospitality.
Average Trading Volume: 2,278,400
Technical Sentiment Signal: Strong Sell
Current Market Cap: S$4.43B
Find detailed analytics on C09 stock on TipRanks’ Stock Analysis page.