CDL to buy back preference shares at S$0.78 each via off-market, equal access scheme

CDL to undertake off-market purchase of preference shares; makes offer at 78 cents apiece

City Developments Limited (CDL) is seeking to buy back 10% of its preference shares, or about 26.8 million in preference shares, through an off-market equal access offer. The group is offering preference shareholders 78 cents per preference share. The offer comes after CDL’s shareholders approved a general mandate for the board to purchase non-redeemable convertible noncumulative preference shares at its annual general meeting (AGM) on April 23.…

CDL to buy back preference shares at S$0.78 each via off-market, equal access scheme

Property player City Developments Limited (CDL) will be repurchasing 10 per cent of its preference shares – or about 26.8 million shares – at S$0.78 a share, it announced in a regulatory filing on Tuesday (May 13).