THE following companies saw new developments that may affect trading of their securities on Monday (Oct 3):
ESR-Logos Reit: ESR-Logos Reit: ESR Group, on Sept 30, announced that it is in the process of acquiring a further 7.7% stake in the manager of SGX-listed ESR-LOGOS REIT (ELOG) from Mitsui & Co.
With the acquisition of Mitsui’s stake, ESR now owns 99% of the ELOG manager.
Prior to this transaction, ESR had acquired 654,546 shares in the ELOG manager from Shanghai Summit, a company wholly-owned by Tong Jinquan, on July 27. The July transaction had already brought ESR’s stake in the ELOG manager to 91.3%.
CapitaLand Ascendas Reit: The manager of CapitaLand Ascendas REIT (CLAR), formerly known as Ascendas REIT, says it has signed a full building lease agreement with Crinetics Pharmaceuticals, Inc. for its new global headquarters at 6055 Lusk Boulevard, San Diego, United States.
Crinetics Pharmaceuticals is a NASDAQ-listed clinical stage pharmaceutical company focused on the discovery, development, and commercialisation of novel therapeutics for rare endocrine diseases and endocrine-related tumours.
The property is located in Sorrento Mesa, one of the top life science submarkets within the United States.
Under the agreement, CLAR will convert the office property into a premier life sciences property at an estimated cost of US$40.0 million ($56.4 million).
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