Published: Wednesday February 6, 2013 MYT 9:51:00 AM
Sunway REIT fixes placement units at RM1.49 each
KUALA LUMPUR: Sunway Real Estate Investment Trust (REIT) has fixed the issue price for the placement units at RM1.49 under its corporate exercise to raise RM320mil.
It said on Wednesday the price was fixed after the bookbuilding process for the 214.76 million units.
Sunway REIT said the board has fixed the issue price at RM1.49 per unit, which was a 2.9% discount to the five-day volume weighted average price of RM1.535 as of Monday
RHB Investment Bank, Credit Suisse (Singapore) Ltd, Credit Suisse (Securities) Malaysia Sdn Bhd, The Hongkong and Shanghai Banking Corporation Ltd, Singapore Branch, and Maybank Investment Bank Bhd acted as placement agents.
"The proceeds from the placement will be utilised to fully repay bank borrowings drawn from Sunway REIT's existing debt financing facilities which was used to satisfy the purchase consideration for the acquisition of the SunMed Property and to defray related expenses," it said.