REIT AsiaPac

Sign up for our FREE news and magazine on Asia Pacific REITs

AME REIT Inks 34 SPAs To Acquire Properties From Various AME’s Units (The Star)

July 20, 2022 – (from The Star) AME Elite Consortium Bhd said AME Real Estate Investment Trust (REIT) has entered into 34 sale and purchase agreements (SPAs) to acquire various properties from the industrial space solutions provider’s subsidiaries to pave the way for its listing on the Main Market of Bursa Malaysia.

AME secured shareholders’ approval for the proposed listing of AME REIT (trustee) in May this year.

In a filing with Bursa Malaysia today, it said the subsidiaries (vendors) are – Active Gold Services Sdn Bhd, AME Development Sdn Bhd, Ipark Development Sdn Bhd, LKL Industries Sdn Bhd, Twin Sunrich Sdn Bhd with disposals totaling RM557 million.

It said the total consideration for the properties will be satisfied by the trustee via the issuance and allotment of 520 million units to be credited into designated central depository system accounts on or before the completion date of the SPAs.

Read more here..

Related News