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
Singapore
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).
TRENDING NOW
Government to bring forward raising of retirement age, give employers more financial support to create flexi-load jobs
If Europe goes to war, the fallout will be felt in East Asia
Former minister Maliki Osman, Revolut chairman join Asia Gulf Holdings advisory board
Small nuclear reactors could boost the Asean Power Grid: GE Vernova executive
