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- The company said the issue price represents a discount of approximately 3.06% to the volume-weighted average price of the units for the five market days up to and including Dec 15 of RM1.8052 per unit.
KUALA LUMPUR (Dec 16): Axis Real Estate Investment Trust (Axis REIT) has fixed the issue price of its private placement exercise at RM1.75 per unit to raise some RM175 million.
In a Bursa Malaysia filing, the company said the issue price represents a discount of approximately 3.06% to the volume-weighted average price of the units for the five market days up to and including Dec 15 of RM1.8052 per unit.
The 100 million placement units, which will be issued to identified placees via a book-building process, represent approximately 6.09% of total issued units of 1.641 billion as at Nov 3.
Based on the company’s filing on Nov 14, most of the proceeds will be utilised for the repayment of bank financing, with the remainder to defray expenses relating to the proposed placement.
Maybank Investment Bank Bhd and CIMB Investment Bank Bhd are the placement agents.
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