(ii) a pro-rata and non-renounceable preferential offering of 64,405,625 New Stapled Securities on the basis of 2 New Stapled Securities for every 25 existing stapled securities in A-HTRUST at an issue price of between S$0.880 and S$0.905
Details found here
Listed about one year ago at an ipo price of 88 cents, its now back to square one!
If you were a shareholder how would you feel about putting up more $$ when the trust itself haven't even paid you much dividends yet? You feel bad and you might sell out in frustration.
Especially in the current bearish reits climate, its really a bad time to raise capital.
http://stockbrokerplayspoker.blogspot.sg/2013/05/bear-is-here-reits-down-5-japan-down-6.html
I strongly feel that among reits there will be more rights issues coming, these capital raising initiative ......
