Charter Hall Retail REIT property, Secret Harbour Square. (Photo: Charter Hall Retail REIT)

Charter Hall Retail REIT (CQR) has completed a fully-underwritten AUD275 million equity fundraising exercise.

New units of the REIT were issued at a fixed price of AUD2.90 each.

This represents a 7.9% discount to the REIT's last close price of AUD3.15 on 24 April 2020, and an 8.4% discount to the 5 day VWAP of AUD3.167 on the same day.

The placement represents approximately 20% of Charter Hall Retail REIT units in issue prior to the equity raising.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.