The Pinnacle Sunway, which is being acquired by Sunway REIT. (Photo: Google Maps)

Sunway REIT has launched an MYR710 million (USD165 million) private placement exercise to raise funds that will be used to acquire a 24-storey office tower.

The issue price of the placement exercise will be determined by the REIT at a later date.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.