Croesus Retail Asset Management, the trustee-manager of Croesus Retail Trust (CRT), has launched a private placement of 60 million new units in CRT at an issue price of between 74.5 and 77 cents per new unit to raise gross proceeds of up to $46.2 million.
It is conducting the private placement to fund potential acquisitions to grow CRT's existing portfolio and to increase the liquidity of its units.
Should the private placement be oversubscribed, CRT may increase the size of the private placement and issue up to 10 million more new units to raise up to $7.7 million of gross proceeds.
CRT will be conducting an advanced distribution for the period between Jan 1, 2016, and April 3, 2016, of an estimated 1.9 cents per unit to existing unitholders.
The advanced distribution is expected to be paid on or around June 29.
Trading in CRT units was halted pending an announcement on Thursday morning.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
It is conducting the private placement to fund potential acquisitions to grow CRT's existing portfolio and to increase the liquidity of its units.
Should the private placement be oversubscribed, CRT may increase the size of the private placement and issue up to 10 million more new units to raise up to $7.7 million of gross proceeds.
CRT will be conducting an advanced distribution for the period between Jan 1, 2016, and April 3, 2016, of an estimated 1.9 cents per unit to existing unitholders.
The advanced distribution is expected to be paid on or around June 29.
Trading in CRT units was halted pending an announcement on Thursday morning.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment