Singapore Press Holdings (SPH) is diversifying its purpose-built student accommodation portfolio beyond the UK, with a 15.6 million euro (S$23.4 million) acquisition in Bremen, Germany. SPH’s wholly-owned subsidiary Straits Nine has entered into an asset purchase agreement with Liberty Living (Galileo Residenz) for the proposed acquisition, SPH, which publishes The Business Times, said early on...
Singapore Press Holdings (SPH) has acquired a portfolio of 14 purpose-built student accommodation buildings across six towns and cities in the United Kingdom for about £180.5 million (S$321 million) cash, it announced early on Monday morning. The buildings, acquired from the Unite Group, have a total capacity of 3,436 beds. They include 10 freehold assets and four leasehold assets, and are located in...
Singapore Press Holdings (SPH) will be raising S$504 million in an initial public offering of its retail-focused real-estate investment trust. According to its prospectus, SPH REIT plans to sell its units at 90 Singapore cents each, representing the top-end of the indicative price range of 85 Singapore cents to 90 cents. The trust is selling 308.9 million units to institutional and public investors....
Media group Singapore Press Holdings plans to raise at least S$523 million by spinning off some of its property assets via a real estate investment trust (REIT), according to a preliminary prospectus filed on Tuesday. Called SPH REIT, the trust's assets will include the upmarket Paragon mall on the prime shopping belt of Orchard Road and the suburban Clementi Mall. SPH expects gross proceeds of...
Singapore Press Holdings (SPH), the newspaper publisher that owns Paragon shopping mall on Orchard Road, has tapped Credit Suisse and DBS Group to manage a listing of its property assets in an initial public offering (IPO) of as much as S$1 billion, according to people with knowledge of the matter. The IPO could take place as soon as the third quarter of this year, said two sources, who asked not to be...
Singapore Press Holdings (SPH) is eyeing further investments in real estate, in particular shopping malls that will provide recurring income, its chief financial officer said. Cash-rich SPH has been investing in new areas, from outdoor advertising to property, to offset falling circulation at its main publications. SPH reported a 14-per-cent rise in advertising revenue growth in its last fiscal year,...
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