ESR-Reit issues 263m new units at S$0.54 apiece in preferential offering to raise S$141.9m

THE manager of ESR-Reit - ESR Funds Management (S) Limited, on Wednesday said it has issued 262.8 million new units at an issue price of S$0.54 per new unit in its pro-rata and non-renounceable preferential offering to raise gross proceeds of up to S$141.9 million.

The units were issued on the basis of 199 new units for every 1,000 existing units in ESR-Reit held as at the books closure date on March 7 at 5pm. With the new issue, the Reit's unit base now stands at 1.58 billion.

The new units hold the same rights as existing units; unitholders will be entitled to ESR-Reit's distributable income earned from Jan 1 to March 27, the day before the issue of the units, as well as distributions thereafter.

The new units will be listed and quoted on the mainboard of the Singapore Exchange from March 28, 9am.

ESR Reit units traded at S$0.545 on Tuesday.