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).
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Stocks rally after strong tech results
Porsche posts Q1 profit drop on ramp-up costs
IBM plots US$730 million expansion of Canadian semiconductor site
Seatrium unit to fully redeem S$500 million worth of floating-rate bonds early
Yeo Guat Kwang, John Chen retiring from corporate boards
US: Wall St opens higher