Singapore-listed business park and industrial REIT, Soilbuild Business Space REIT (SGX:SV3U), announced on 5 May that it has issued 111,800,000 new units in pursuant to a private placement exercise.
The units were issued at a price of SGD0.805 per new unit and commenced trading on the Singapore Exchange at 9 a.m. on the same day.
The REIT first announced in April 2015 that it was looking to execute a private placement exercise with the intention of raising up to SGD90 million to partially fund the acquisition of the property located at 72 Loyang Way.
Due to the placement, the REIT has declared an advanced distribution for the period from 1 April 2015 to 4 May 2015. The next distribution thereafter will comprise Soilbuild REIT’s distributable income for the period from 5 May 2015 to 30 June 2015. Quarterly distributions will resume thereafter.
With the placement, the total number of units in the REIT now stands at 927,550,896.
Units of Soilbuild Business Space REIT fell 1.2% at the close of the trading day to end at SGD0.82.