At this pricing range, the placement will be priced at a discount of between 7 and 10% off the volume weighted average price of 21.5 US cents on Sept 24.
Prime US REIT plans to raise at least US$25 million via a private placement to fund plans to generate organic growth, with the US office market showing signs of recovery. Having held back distribution to unitholders previously, Prime US REIT plans to normalise distribution at 50% of its distributable income from the current half year, from 10% now.
The new units will be priced between 19.35 US cents, and 20 US cents.
