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Singapore’s First REIT (FRET.SI) will issue a five-for-four rights issue worth $172.8 million, according to a note seen by Reuters.
The new rights units will be offered at $0.50 per unit, the note said. First units last traded at $0.985.
The new rights units will be offered at $0.50 per unit, the note said. First units last traded at $0.985.
It said Indonesia’s Lippo Karawaci (LPKR.JK) would take up its pro-rata entitlement of 21.74% of the rights issue and will subscribe for 50% of the non-pro rata units.
The note said the funds were being raised to acquire two healthcare properties in Indonesia.
