Starhill Global Reit receives applications for 129.3% of the rights units available in the offering.
Investors snapped up a rights offering from Starhill Global Real Estate Investment Trust yesterday, helping the company to raise S$337.3 million ($234 million).
The Singapore-listed company received valid acceptances and excess applications for a total of 1.24 billion rights units, representing 129.3% of the 963 million rights units available in the offering, which Starhill launched in late June. The units were offered on a one-for-one basis and sold at a subscription price of S$0.35 each.
Since the rights issue was launched, units in the Reit have not moved notably: on the first day of the deal, June 22, they were trading at S$0.50. Continue reading
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