Link REIT Proposes 1-for-5 Rights Issue To Raise HK$18.8 Billion
Jan 11, 2023 – The Rights Issue is proposed to be conducted on the basis of one Rights Unit for every five existing Units held at a subscription price of HK$44.2 per Rights Unit, the company said in a statement.
This represents an approximately 26% discount to the theoretical ex-rights price of HK$59.7 per Unit and 29.6% discount to the closing price of HK$62.8 per Unit on the last trading day of February 9, 2023.
It is expected that the net proceeds from the Rights Issue will be used for repaying existing debts, pursuing investment opportunities and general working capital:
(i) Approximately 40% to 50% of the net proceeds from the Rights Issue will be used to repay existing debt and for general working capital
(ii) The balance will be deployed for pursuing future investment opportunities, with a focus on retail, car park, office and logistics sectors across Asia Pacific.