Hong Kong-based Link REIT plans to raise HK$19.3B (~$2.5B) through a rights offering.
The company intends to use the funds to repay existing debt and pursue investment opportunities.
- A Hong Kong stock exchange filing revealed that Link REIT plans to issue around 437.7 million shares at HK$44.2 per share.
- Asia's largest REIT's net gearing ratio, the proportion of debt versus equity, will decrease below 20%.
- Last December, Link REIT announced it was entering the Singapore market by acquiring two suburban shopping malls.
- Link invests in retail facilities, car parks, offices, and logistics centers in Hong Kong, mainland Chinese cities, Melbourne, Sydney, and London.
