Lendlease Reit to raise at least S$573.8m to fund Jem acquisition

Singapore

THE manager of Lendlease Global Commercial Reit (Lendlease Reit) is proposing to raise at least S$573.8 million to partly finance the real estate investment trust's (Reit) acquisition of the remaining interest in Jem mall.

The fundraising exercise comprises a private placement of at least 448.3 million new units, subject to an upsize option, and a non-renounceable preferential offering of around 345.6 million new units, the manager said in a bourse filing on Tuesday (Mar 22).