Nomura Real Estate raises $610m in rare equity placement
Nomura Real Estate sold new shares worth ¥60bn ($610m) on Tuesday at a tight discount to market prices, proving that Japan’s battered real estate companies remain able to access equity funding despite the turmoil in the sector.
Nomura Real Estate priced 36m shares at ¥1,671, a 4% discount to Tuesday’s closing price, in a domestic follow-on offer handled by affiliate Nomura Securities.
The fully-marketed deal is the biggest follow-on from Japan’s real estate sector since DA Office Investment Corp raised ¥82bn in July 2007, according
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