Malaysia's largest REIT to raise 320 mln ringgit from placement

KUALA LUMPUR Tue Feb 5, 2013 9:08pm EST

Related Topics

KUALA LUMPUR Feb 6 (Reuters) - Malaysia's Sunway Real Estate Investment Trust (REIT), the country's largest REIT in asset size, said on Wednesday it will issue new units to raise 320 million ringgit to repay debt tied to a recent acquisition.

Sunway REIT will issue 214.8 million new units at 1.49 ringgit per unit for its acquisition of Sunway Medical Center, its first healthcare asset. The move comes after shares of the company were suspended for the past two days pending the announcement. Trading will resume at 1000 a.m. (0200 GMT) on Wednesday.

RHB Investment Bank, Credit Suisse (Singapore) Ltd, Credit Suisse (Securities) Malaysia Sdn Bhd, The Hongkong and Shanghai Banking Corp Ltd and Maybank Investment Bank Bhd were agents for the placement. (Reporting By Al-Zaquan Amer Hamzah)

FILED UNDER: