PETALING JAYA: Sunway Real Estate Investment Trust (Sunway REIT) has successfully raised gross proceeds of RM710mil through the placing out of 479.7 million new units in line with the private placement exercise at an issue price of RM1.48 per unit.
The proceeds from the private placement have been earmarked to mainly fund the acquisition of The Pinnacle Sunway and the expansion of Sunway Carnival Shopping Mall.
In a statement yesterday, manager Sunway Reit Management Sdn Bhd said the private placement was fully subscribed with encouraging demand.
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