Soilbuild REIT preferential offering acceptances at 82 percent

Singapore two-dollar billsSingapore two-dollar bills

Soilbuild Business Space REIT’s preferential offering received valid acceptances and excess applications for 157.49 million units, or 81.97 percent of the new units available, the REIT said in a filing to SGX Friday.

The balance of 34.64 million new units will be subscribed by CGS-CIMB Securities (Singapore), DBS Bank, RHB Securities Singapore and Soochow CSSD Capital Markets (Asia), the filing said.

The offering was on the basis of 28 new units for every existing 100 units held at an issue price of S$0.53 per unit, the filing said.

The total of 192.14 million new units was set to raise gross proceeds of around S$101.8 million, the REIT said.

The new Soilbuild REIT units are expected to be listed on SGX, effective 19 September, the filing said.

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