Lendlease Reit raises S$280 million in private placement
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Lendlease Global Commercial Real Estate Investment Trust (Reit) successfully completed a private placement raising approximately S$280 million, exceeding the initial target of S$270 million. The placement was three times oversubscribed, with units issued at S$0.6020 each, a 3.7% discount from the adjusted average price. Proceeds will primarily finance the acquisition of a 70% stake in Paya Lebar Quarter mall, valued at S$885 million. The trading halt was lifted on Thursday, following a 2.3% decline in unit price prior to the announcement.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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