Trading of Sunway REIT suspended

The Star, February 6, 2013

PETALING JAYA: Trading in the securities of Sunway Real Estate Investment Trust (Sunway REIT) was suspended yesterday to facilitate the bookbuilding process under its placement exercise, said the manager of the REIT in a statement issued by RHB Investment Bank Bhd.

There were no further announcements regarding the exercise as of press time. The pricing, number of units and ratio between debt and equity have yet to determined.

On Oct 9 last year, it proposed to place out new units in Sunway REIT to raise gross proceeds of up to RM320mil at an issue price to be determined later by way of bookbuilding.

The sum raised would be used for the proposed acquisition of Sunway Medical Centre (SunMed), which would enlarge its portfolio to 12 properties, according to previous reports.

SunMed would be Sunway REIT’s first healthcare asset should it be injected.

It was also reported that the bookbuilding exercise would be carried out by its four placement agents – RHB Investment Bank Bhd, Maybank Investment Bank Bhd, Credit Suisse (Singapore) Ltd, and The Hongkong and Shanghai Banking Corp Ltd (Singapore).