The manager of ESR-REIT has announced that 268.8 million new units in the REIT will be issued and listed as of 9am on May 18 under a private placement at an issue price of 37.2 cents per unit, amounting to gross proceeds of $100 million.
The private placement follows the manager’s proposed equity fundraising of not more than $150 million via a private placement and preferential offering. Given the gross proceeds raised from the private placement, the management has reiterated that gross proceeds from the preferential offering will not exceed $50 million.
