ESR-Reit drops as much as 9.8% after proposed acquisitions, fundraising
It drops to intraday low of S$0.37; the last time it closed near this level was on Nov 16, 2020
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SHARES of ESR-Reit fell by 9.8 per cent amid heavy trading, one day after the manager announced plans to raise about S$150 million to fund a Singapore acquisition and asset enhancement initiatives (AEIs)
The real estate investment trust (Reit) also obtained a S$68.5 million unsecured loan to finance the acquisition of a 10 per cent interest in a GIC-majority-owned Australian logistics investment for A$60.5 million (S$62.4 million).
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