I received an SMS earlier today from SCB – corporate action.
The first thing that came to mind was will this be dilutive or accretive? You should be able to guess it from the title of my post. To be honest, I have not been keeping up with the market news so this is new to me. Went to dig through the announcement and wanted to do a quick summary.
Soilbuild REIT will be acquiring a new Grade A office building in Australia – 25 Grenfell Street, Adelaide for A$134.22 million (S$127.51 million) but will be paying approximately A$142.01 million (S$134.91 million) due to various fees, out of which S$101.8 million will be raised through this preferential offering.
Every 18 New Units will be issued for every 100 existing units in Soilbuild REIT (the “Units”) held as at 5.00 p.m. on Thursday, 29 August 2019 to Eligible Unitholders (as defined herein) (fractions of a New