Corporate digest

Sabana Reit

SABANA Shari'ah Compliant Industrial Real Estate Investment Trust (Reit) will lower the conversion price of its S$80 million principal amount of 4.5 per cent convertible sukuk due 2017 if a planned S$80.2 million rights issue is completed.

The conversion price of the sukuk will be adjusted to S$0.8628 per unit from S$1.0131 per unit after the rights units are issued. Sabana Reit's stock closed at 45 Singapore cents on Dec 23.