Jardine Strategic Holdings removed from Straits Times Index

Frasers Logistics & Commercial Trust has taken over the company's place in Singapore's key index.

Jardine Strategic Holdings has been removed from the Straits Times Index following the acquisition of 15% of its share capital by Jardine Matheson Holdings

“The proposal was approved at a special general meeting 12 April. This has seen Jardine Strategic Holdings omitted from the STI effective today, which has made room for Frasers Logistics & Commercial Trust,” an update from the Singapore Exchange said.

With the Frasers L&C joining STI, SGX said it has boosted the benchmark REIT exposure to 15% in the index.

In March, Jardine Matheson announced intentions to acquire the 15% of Jardine Strategic it does not own at US$33 per share.

The acquisition was successful despite a number of shareholders voting against.