Lendlease Global Commercial REIT to Raise SG$197 Million Via Preferential Offering

MT Newswires
Mar 10

Lendlease Global Commercial REIT (SGX:JYEU) is targeting to raise around SG$196.6 million through an underwritten non-renounceable preferential offering of around 352.4 million new units at SG$0.558 apiece, according to a Tuesday filing with the Singapore Exchange.

Under the offering, 119 units will be issued for every 1,000 existing units.

DBS Bank, Oversea-Chinese Banking Corp. or OCBC (SGX:O39) and United Overseas Bank(SGX:U11) were appointed as joint underwriters of the offering.

Proceeds from the offering will be used to finance the acquisition of the remaining 30% stakes in PLQ Mall and its trustee-manager. Meanwhile, around 6.6% of the gross proceeds will be used to pay costs linked with the acquisitions.

The remaining proceeds will be used to pare down existing debt.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10