Singapore-listed office REIT, OUE Commercial REIT, announced on 4 August that it has successfully issued 393,305,817 new units.
The units were disbursed as part of a rights issue exercise first announced in June 2015 to partly finance the proposed acquisition of an indirect interest in Singapore office property One Raffles Place.
The acquisition is expected to cost between SGD1,061.2 million to SGD1,178.3 million. The rights issue has raised gross proceeds of approximately SGD218.3 million for the REIT.
Eligible unit holders who subscribe to the rights issue were entitled for nine new units in the REIT for every 20 existing units held at the books closure date for SGD0.555 per unit.
With the issue, the total number of units in OUE Commercial REIT is now 1,267,318,745 units. The new rights issue units will commence trading on the Singapore Exchange on 5 August.
OUE commercial REIT last changed hands at SGD0.69.