Soilbuild Reit to issue new units to fund Australia property buy

Singapore

SOILBUILD Business Space Reit (Soilbuild Reit) has launched a fully underwritten non-renounceable preferential offering to raise about S$101.8 million to fund an Australia property acquisition.

The Reit (real estate investment trust) will issue about 192.1 million new units at S$0.53 per unit, which represents an approximate 8.4 per cent discount to the volume-weighted average price (VWAP) of S$0.5788 on Wednesday.