Axis-REIT private placement seen timely

TheStar Wed, Nov 16, 2022 09:00am - 1 year View Original


MIDF Research says it is “neutral” on the private placement as it is part of the capital management of Axis-REIT.

PETALING JAYA: The move by Axis Real Estate Investment Trust (Axis-REIT) to undertake the private placement of its shares is a timely one amid the current rising interest rate environment.

This, at the same time, would also help Axis-REIT make future asset acquisitions to boost its earnings going forward in the wake of the challenging business times.

MIDF Research said it is “neutral” on the private placement as it has been part of the capital management of Axis-REIT. Recall that the company completed its private placement on Dec 20, 2021 that raised gross proceeds of RM334.7mil for repayment of bank financing.

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