Through its preferential offering, the REIT will offer up to 186.10 million units to its existing unitholders at a preferential offering ratio of 161 preferential offering units for every 1,000 existing units. The preferential offering units will be offered at an issue price of 40.8 cents apiece, representing a discount of 9.6% to the volume weighted average price (VWAP) of 45.15 cents per unit on June 19.
IREIT Global (SGX:UD1U
) is seeking to raise gross proceeds of around $75.9 million via a preferential offering.
The proceeds will be used to mainly fund the acquisition of the 17 retail properties located across France. IREIT announced the acquisition of the properties on June 1. The acquisition will cost the REIT a total of EUR90.9 million ($133.1 million) including fees and taxes.
