Fortune Real Estate Investment Trust, which is backed by investor Li Ka-shing and focuses on shopping malls and other retail properties in Hong Kong, has raised HK$975 million $125 million from a sale of new units, after upsising the deal by 23.5%.
The deal attracted about 50 accounts, with allocations heavily skewed towards long-only investors and current unitholders, according to a source close to the placement.
The price was fixed just below the mid-point of the range, resulting in a 4.3% discount to the average close on Monday. Fortune Reit is listed both in Singapore and Hong Kong, and the average close referred to the mid-point...
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