Amanahraya REIT share price flat despite Vista Tower buy

By The News Team on Sep 11, 2017

PETALING JAYA: Amanahraya Real Estate Investment Trust's (Amanahraya REIT) share price remains flat at 95 sen this morning after announcing that it is buying Vista Tower on Jalan Tun Razak, Kuala Lumpur for RM455 million cash.

As at 11.36am, Amanahraya REIT's share price stood at 95 sen with 133,000 shares changing hands. It has a market capitalization of RM544.6 million.

Amanahraya REIT told the stock exchange yesterday that the REIT's management company AmanahRaya-Kenedix REIT Manager Sdn Bhd had entered into a conditional sale and purchase agreement with The Intermark Sdn Bhd for the proposed acquisition.

With the proposed acquisition, Amanahraya REIT's total asset value will increase from RM1.04 billion as at June 30, 2017 to RM1.56 billion.