ESR-Logos Reit’s private placement three times subscribed at S$0.33 apiece

ESR-Logos Real Estate Investment Trust (Reit) announced on Friday (Feb 17) that its private placement was three times subscribed.

Each unit was priced at S$0.33 apiece, with 454,545,000 new units issued. This represents an approximately 5.8 per cent discount to the volume-weighted average price (VWAP) of S$0.3502 for all trades on the Singapore Exchange on Wednesday, before the manager called for a trading halt on Thursday.

The price of S$0.33 per unit also comes at the lower end of the earlier consideration for private placement. The manager said on Thursday that it had intended to issue between 447.8 million and 454.5 million new private placement units, at an issue price ranging between S$0.33 and S$0.335.