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OUE Commercial REIT announced on Thursday (9 March) that it issued about 233.28 million new shares via private placement at $0.643 apiece, with the gross proceeds increasing around 50 percent to $150 million.
“The placement attracted strong demand, with expressions of interest coming from institutional and local investors, and the upsize option has been exercised,” said the trust manager, OUE Commercial REIT Management.
Net proceeds amounted to roughly $148.5 million after deducting about $1.5 million to pay the commission of the placement agent, UBS AG (Singapore Branch), as well as other fees and expenses incurred in the issuance.
This amount will be used to partially repay the existing loans of OUE Commercial REIT.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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