A major bank in Singapore has reduced its distribution per unit (DPU) forecasts on ESR-REIT, after the industrial landlord announced plans to raise up to SGD150 million in equity fund-raising exercises.
ESR-REIT announced on 17 June that it would be deploying proceeds from the exercise towards a property acquisition, and an asset enhancement initiative (AEI).
Related: ESR-REIT to raise up to SGD150 million for acquisition, enhancements
Unit price for the REIT has since fallen by more than 6% since this announcement.
Missing out on information beyond mainstream media reports?
Login or sign-up for a free 25-day trial here.
