Bigger placement nets Fortune Reit $126m

By Rev Hui
01 Aug 2013

Fortune Real Estate Investment Trust raised HK$975m ($126m) on July 30 through a placement of 143m primary units as demand from long-only funds and real estate-focused accounts allowed it to increase the size of the deal.

The units were sold at a price of HK$6.82, a 4.4% discount to the average closing price on July 29 derived from the company's shares on both the Hong Kong Stock Exchange and the Singapore Stock Exchange.

This was slightly below the mid-point of an indicative price range ...

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