SINGAPORE (July 7): The manager of Dasin Retail Trust announced Tuesday that 120,512,000 new units will be issued today at the price of 78 cents per new unit.
This brings the total number of units under the trust to 770,838,655.
The new units will be listed and quoted on the mainboard of the Singapore Exchange (SGX) at 9 a.m. today.
On June 26, Dasin Retail Trust launched a private placement to raise gross proceeds of up to $94 million to partially fund the acquisition of Shunde Metro Mall, and Tanbei Metro Mall, both in China’s Guangdong province.
The trust announced on Nov 13, 2019, that entered into a sale and purchase agreement to buy two malls in China from its sponsor Zhongshan Dasin Real Estate and Zhang Zhencheng, the chairman and non-executive director of the trustee manager. The total cost of the acquisition was said to be an estimated $333.0 million.
On June 30, the trust said that its placement was 1.2 times subscribed. Its controlling shareholder Aqua Wealth Holdings subscribed for 38,461,000 new units.
Units in Dasin Retail Trust closed flat at 79 cents on Monday.
