OUE H-Trust plans S$238m rights issue to buy hotel extension

Singapore

OUE Hospitality Trust (OUE H-Trust) is carrying out an underwritten rights issue to raise S$238.6 million in gross proceeds to fund the purchase of the Crowne Plaza Changi Airport hotel extension.

OUE H-Trust is a stapled group consisting of OUE Hospitality Real Estate Investment Trust and OUE Hospitality Business Trust.

Priced at S$0.54, the roughly 441.9 million new stapled securities will be offered to eligible securityholders at a ratio of 33 rights stapled securit…