Dubai Investment Group (DIG) is buying a 10% stake in Sesdaq-listed Sing Holdings.
DIG is subscribing to a placement of 27 million new shares in Sing Holdings at 43 cents each.
This is part of the 40 million new shares that Sing Holdings is placing out.
The deal marks DIG’s maiden investment in a listed property company in Singapore.
The group has investments worldwide in financial, industrial, real estate and hospitality sectors.
DIG is also exploring joint venture possibilities with Sing Holdings to develop properties in Singapore.
Source: Channel NewsAsia, 11 April 2007