To help fund the related-party transaction, the REIT’s management has proposed a private placement to raise proceeds of up to RM280mil for a yet-to-be-determined price and number of placement units.
KUALA LUMPUR: The trustee of UOA Real Estate Investment Trust has entered into a conditional sale and purchase agreement with UOA Development Bhd
’s unit Distinctive Acres Sdn Bhd for the proposed acquisition of UOA Corporate Tower for RM700mil cash.
To help fund the related-party transaction, the REIT’s management has proposed a private placement to raise proceeds of up to RM280mil for a yet-to-be-determined price and number of placement units.
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