Dasin Retail Trust placement 1.2 times subscribed; purchase price for China malls unchanged

Singapore

DASIN Retail Trust's placement was 1.2 times subscribed at an issue price of S$0.78 per unit - the lower end of its indicative price range of S$0.78 to S$0.80 per new unit.

A total of 120.5 million new units will be issued to raise some S$94 million in gross proceeds. The placement was "well supported by new investors and existing unitholders", its trustee-manager said in a bourse filing late on Friday night.

The issue price represents a 6 per cent discount to the volume-weighted average price of S$0.83 per unit for trades done on June 25, the date before the placement agreement was signed…

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