ARA

ARA: may be hit by weak sentiment after announcing its decision to suspend Dynasty REIT's $956m IPO due to “weak market conditions”. In Feb, Maybank-Kim Eng had tipped the listing as a share catalyst, viewing it as critical to unlocking the value for ARA's Asia Dragon Fund investors. Separately, ARA says it sold Manulife Tower in North Point district in Hong Kong for HK$3.3b, or an avg of HK$8,594 psf. Prices of Manulife Tower have reportedly risen 47% since ARA bought the building in Jun ’10 for HK$2.25b. ARA yday closed down 1.3% at $1.555.