LMIR TRUST TO ACQUIRE TWO QUALITY RETAIL MALLS
FOR S$388 MILLION
TO BE PARTIALLY FUNDED BY A 1-FOR-1 RIGHTS ISSUE
- 1-for-1 rights issue at S$0.31 per rights unit represents a discount of 42.6% to
the closing price of S$0.54 per unit
- Rights issue to raise gross proceeds of approximately S$337 million
- Proceeds raised to partially fund the acquisitions of Pluit Village in Jakarta
and Plaza Medan Fair in Medan, two strategically located quality retail assets
with attractive net property income yields
- Acquisitions enlarge LMIR Trust’s portfolio to 10 retail malls and 7 retail
spaces, valued at approximately S$1.46 billion
Pluit Village, a five-level retail mall located in Jakarta, Indonesia is to be acquired
from entities linked to the Sponsor of LMIR Trust, PT Lippo Karawaci Tbk,
for S$234 million1 and Plaza Medan Fair, a four-level retail mall
located in Medan, Indonesia, from ......
