Suntec reit has announced a private placement to raise S$350m, a total of 218.069 million new shares at S$1.605 per share. Net proceed around S$341 million after fees. Has been fully subscribed.
Around 3.5% discount to the price on 18 march, after adjusting for the advanced distribution. It increased the number of unit in issue by 9.6%.
The proceed are used to pare debt.
* want to find out more? Call your own broker. :D
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