Tower of prospects: Menara Shell is also currently owned by MQREIT’s parent, MRCB, suggesting that MRCB will ensure that Menara Shell’s prospects are kept intact.
The proposed acquisition of Menara Shell by MRCB-Quill Real Estate Investment Trust (MQREIT) will increase significantly the asset size of the REIT whose market capitalisation stands at RM774mil - pushing it beyond the RM2bil mark.
At the same time analysts say it will result in as much as a 61% equity dilution for shareholders. This will come as a result of a proposed private placement exercise proposed by MQREIT to fund the acquisition.
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