SINGAPORE (Aug 22): DBS has maintained its “buy” call for Soilbuild Business Space REIT, with a target price of 78 cents.
This comes as SB REIT Management, the manager of Soilbuild Business Space REIT, announced the launch of an issuance of about up to 94.4 million new units, priced at 63 cents each through a preferential offering exercise to its existing unit-holders.
The offering is expected to raise net proceeds of $59.2 million and will be used to partially finance the proposed acquisition of Bukit Batok Connection (BBC), which is expected to cost about $100.5 million.
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