This will translate to net proceeds of about $147.7 million based on the $1.77 minimum issue price, and $149.9 million for the maximum issue price of $1.81 per unit.
SINGAPORE (April 24): Suntec REIT’s manager ARA Trust Management is proposing to issue 84.7 million new units of the REIT at $1.77 to $1.81 per new unit in its bid to raise up to $150 million of gross proceeds, with the possibility of increasing the size of the private placement by up to an additional $50 million.
The price range of the unit placement represents a discount of between 5.8% and 3.7% of the volume weighted average price of $1.879 per unit in the REIT as at the close of Wednesday.
