SINGAPORE (June 11): Frasers Logistics & Industrial Trust (FLT) announced that about 152 million preferential offering new units were issued at 96.7 cents per unit, raising approximately $147.1 million.

The trust’s total number of preferential units now stands about 2 billion.

Along with a private placement exercise the group held on May 21, which raised $328.9 million, the trust has raised a total of $476.0 million from its equity fund raising.

The trust says that the gross proceeds from the preferential offering will be used to repay proceeds from a bridge loan facility of $143 million, as well as $4.1 million of fees and expenses the trust incurred in connection to the private placement.

Units in FLT last traded 1 cent lower at $1.04 on Friday.