Investors snapped up a rights offering from Starhill Global Real Estate Investment Trust yesterday, helping the company to raise S$337.3 million $234 million.
The Singapore-listed company received valid acceptances and excess applications for a total of 1.24 billion rights units, representing 129.3% of the 963 million rights units available in the offering, which Starhill launched in late June. The units were offered on a one-for-one basis and sold at a subscription price of S$0.35 each.
Since the rights issue was launched, units in the Reit have not moved notably on the first day of the deal, June 22, they were trading at S$0.50. At the close of yesterday's trading, they were at...
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