YTL REIT fixes issue price of new placement units at RM1.06 each
Published on: Friday, December 02, 2016
Kuala Lumpur: YTL Hospitality Real Estate Investment Trust (YTL REIT) has fixed the issue price for its 380 million new placement units at RM1.06 per unit as part its placement exercise to raise gross proceeds of up to RM800 million. In a filing to Bursa Malaysia Thursday, YTL REIT said out of the total, 190 million new units would be issued to YTL Corporation Bhd (YTL Corp) while the rest to placees identified through its placement agents, namely AmInvestment Bank, Credit Suisse (Singapore) Ltd and Maybank Investment Bank Bhd.It said the 380 million new placement units would raise total gross proceeds of RM402.8 million.
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According to its earlier announcement on June 14, 2013, the exercise for the REIT, which was then known as Starhill REIT, aimed to partially repay its borrowings and reduce its gearing level.Stay up-to-date by following Daily Express’s Telegram channel.
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