ESR-REIT launches preferential offering exercise to raise up to SGD141.9 million


ESR-REIT has launched a preferential offering exercise to issue approximately 262.8 million new units.

The exercise seeks to raise gross proceeds of up to approximately SGD141.9 million (USD106 million), which will be used largely to fund the acquisition of 7000 Ang Mo Kio Avenue 5.

ESR-REIT first announced in December 2017 that it has acquired an 80% stake in the property for SGD240 million.

Analysis: Four good omens ahead for ESR-REIT after Ang Mo Kio acquisition

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