In the immediate term, CLAR’s unit price may well fall to the placement price. However, both E-LOG and MLT are above their respective EFR and placement prices of 32.5 cents and $1.649 cents respectively.
Following CapitaLand Ascendas REIT’s (CLAR) (SGX:A17U
) placement to raise $450 million, S-REITs would have raised $950 million this year (and it’s only May). In April, ESR-LOGOS REIT (SGX:J91U) completed a preferential equity fund raising $150 million taking its total fund raising to $300 million. On March 31, Mapletree Logistics Trust raised $200 million in an overnight placement.
On May 16, CLAR announced a capital raising of $450 million at a price of S2.713-$2.769. The immediate reaction from investors ahead of a resumption in trading of CLAR units was dismay. The price will fall by 8 cents, moaned a CLAR unitholder.
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