Paragon REIT to be Privatized in Strategic Move

Paragon REIT ( (SG:SK6U) ) has shared an announcement.

Paragon REIT is set to undergo privatization through a trust scheme of arrangement, as announced by its manager, Paragon REIT Management Pte. Ltd., and Times Properties Private Limited, a subsidiary of Cuscaden Peak Pte. Ltd. Morgan Stanley Asia (Singapore) Pte. is acting as the financial adviser for this transaction. The move is in accordance with the Singapore Code on Take-overs and Mergers, and it is expected to streamline Paragon REIT’s operations and potentially enhance its market positioning. The dealings in Paragon REIT’s securities by associates of Morgan Stanley are conducted independently of the scheme and will not impact the scheme consideration.

More about Paragon REIT

Paragon REIT operates in the real estate investment trust industry, focusing on managing and investing in a diversified portfolio of income-producing real estate assets. The company is managed by Paragon REIT Management Pte. Ltd.

YTD Price Performance: 0.54%

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: $2.07B

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