ESR-Reit nets S$50m in oversubscribed preferential offering

Singapore

ESR-Reit has achieved gross proceeds of S$50 million from a preferential offering that was oversubscribed, with no additional units alloted beyond the original amount it had set out to raise.

The proceeds include sponsor ESR Cayman's acceptance of its alloted 8.8 million units, or about S$4.5 million based on the issue price of S$0.51 per unit.