AIMS Financial Group, the sponsor of AIMS APAC REIT, exercised a call option to acquire around 70.3 million units of the REIT held by AMP Capital Investors and then held a secondary placement of the units, AIMS said in a filing to SGX Wednesday.
The placement exercise was held Wednesday via a book-building process with a price of S$1.35 a unit, the filing said.
“The call option and subsequent secondary placement was undertaken with the intention of helping AA REIT to diversify the investor base, enhance the investor profile, and to improve the trading liquidity of the units of AA REIT,” AIMS said.
The sale units were placed mainly to new investors, including high quality institutional, sovereign wealth, family office and high net worth investors in Asia Pacific and Europe, AIMS said.
Merrill Lynch (Singapore), DBS Bank and Maybank Kim Eng Securities handled the placement exercise, the filing said.
AA REIT’s units ended Wednesday down 7.43 percent at S$1.37 after the placement price was announced.
