Suntec REIT has proposed to issue 84.7 million new units in a placement exercise to raise gross proceeds of approximately SGD150 million (USD110 million).
New units of the REIT will be issued at a price of between SGD1.77 and SGD1.81 each.
At this range, net proceeds from the placement will amount to approximately SGD147.7 million based on the minimum issue price, and approximately SGD149.9 million based on the maximum issue price.
Suntec REIT’s manager may also decide to upsize the private placement by up to an additional SGD50.0 million.
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