At its close on Jan 10, the REIT received valid acceptances of units totalling 125.23 million units, translating to an overall subscription rate of about 121.2% based on the original number of preferential offering units available.
Elite Commercial REIT has successfully raised GBP28 million ($47.5 million) through its preferential offering, which was oversubscribed.
The offering offered 103.35 million new units to its existing unitholders at a ratio of 214 preferential offering units for every existing 1,000 units. The offering’s issue price of 27 British pence represented a 10% discount to the volume weighted average price (VWAP) of the REIT’s unit price of 30 British pence on Dec 18, 2023.
