Elite UK REIT to start SGD trading on SGX from 16 March

Units will trade in SGD and GBP.

Elite UK REIT will implement dual-currency trading on SGX-ST from 9:00 am on 16 March, adding a Singapore-dollar trading counter alongside its existing pound-sterling counter, its manager said.

The manager said units are currently quoted and traded only in GBP, and trades made in the SGD counter will be settled in SGD, whilst trades in the GBP counter will continue to settle in GBP.

It said the units traded in both counters are identical, and investors will be able to buy or sell through either counter, with dual-currency trading intended to improve fungibility and potentially reduce transaction costs for investors using SGD.

The manager said unitholders will continue to have the option of receiving distributions in SGD or GBP, with those who want GBP required to submit a Distribution Election Notice to CDP, whilst no action is needed to receive distributions in SGD.

It added that the implementation does not change the total number of units issued, and said the trading name and stock code for the SGD counter will be announced once available from SGX-ST.

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