Business News

Published: Wednesday February 6, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:36:55 AM

Sunway REIT fixes placement units at RM1.49 each

KUALA LUMPUR: Sunway Real Estate Investment Trust (REIT) has fixed the issue price for the placement units at RM1.49 under its corporate exercise to raise RM320mil.

It said on Wednesday the price was fixed after the bookbuilding process for the 214.76 million units.

Sunway REIT said the board has fixed the issue price at RM1.49 per unit, which was a 2.9% discount to the five-day volume weighted average price of RM1.535 as of Monday

RHB Investment Bank, Credit Suisse (Singapore) Ltd, Credit Suisse (Securities) Malaysia Sdn Bhd, The Hongkong and Shanghai Banking Corporation Ltd, Singapore Branch, and Maybank Investment Bank Bhd acted as placement agents.

"The proceeds from the placement will be utilised to fully repay bank borrowings drawn from Sunway REIT's existing debt financing facilities which was used to satisfy the purchase consideration for the acquisition of the SunMed Property and to defray related expenses," it said.

Tags / Keywords: News, Business, Sunway Real Estate Investment Trust, placement units, Business

advertisement

  1. Nearly RM1b Langat 2 water treatment plant awarded to Salcon-MMC-AZRB JV (Update)
  2. Too few attending to last will and testament
  3. MAS share price cheapest in 12 years, makes it attractive for privatisation
  4. Another China developer flocks to Iskandar, plans RM10bil projects
  5. Car ownership in M’sia third highest in the world: Nielsen
  6. Eastspring Investments launches target income fund
  7. Four in 5 parents wished they had saved earlier for education
  8. MAS privatisation will cost Khazanah RM1.18bil
  9. Don't fear trade pacts as overall M'sia will benefit
  10. AirAsia Group says will move into KLIA2 by May 9 (Update)

advertisement

advertisement