The non-renounceable preferential offering will be offered to the REIT’s unitholders on a pro rata basis. Its issue price, which is based on a discount of 0.5 cents to the private placement issue price, represents a discount of 5.77% and 7.20% to the VWAP of 35.02 cents per E-LOG unit.
ESR-LOGOS REIT (E-LOG) (SGX:J91U
) is seeking to raise gross proceeds of around $300 million. The equity raising will be done through a private placement of between 447.8 million and 454.5 million new units and a non-renounceable preferential offering of new units.
The units from the private placement will be offered to institutional and other investors at an issue price of between 33 cents to 33.5 cents per new unit, representing a discount of 4.34% and 5.77% to the volume weighted average price (VWAP) of 35.02 cents per E-LOG unit on Feb 15.
