Property developer Oxley Holdings on Friday requested for a trading halt pending the release of an announcement.
Singapore-listed firm is in the advanced stages of stitching up a deal to buy Chevron House in Raffles Place for about S$660 million, Business Times reported.
The price is believed to be around S$660 million or S$2,526 per square foot on the property's existing net lettable area (NLA) of 261,280 sq ft, the report said.
Chevron House, formerly called Caltex House, has a total of 33 floors, excluding 3 basement levels. Situated in the financial district of Raffles Place, it is close proximity to buildings like Singapore Land Tower, Hitachi Tower, Change Alley and The Arcade.
Shares in Oxley Holdings last traded at S$0.63 on the Singapore Exchange before the trading halt. The stock has gained 64 percent in an year.