First REIT (AW9U.SG) +0.7% at $0.740, in line with broad market, STI +0.8%; units not reacting to news during break.
REIT lodges offer information statement with MAS, detailing plans to raise $172.8 million via rights issue to fund acquisition of hospitals in Indonesia, as news well flagged after REIT’s manager Bowsprit Capital announced issue on Nov 8.
Also plans to buy Mochtar Riady Comprehensive Cancer Centre for $170.5 million, Siloam Hospitals Lippo Cikarang for $35 million.
REIT offering 345.66 million new units at $0.50 apiece, on basis of 5 rights units for every four units held at Friday’s close; issue will open Dec 8, close Dec 22; price represents 32% discount to Friday’s close at $0.735.
REIT usually thinly traded, but action today even scarcer at just 249,000 units; suggests last week’s high of $0.750 unlikely tested near term.