Al-'Aqar Healthcare REIT's private placement fixed at RM1.20 a unit

• It is also an 8.4% discount to the adjusted closing price of the units on April 3 of RM1.31 after taking into account the last closing price of RM1.33 less the income distribution of two sen per unit.

KUALA LUMPUR (April 4): Al-'Aqar Healthcare REIT has fixed the issue price of its impending private placement exercise at RM1.20 per new unit.

In a Bursa Malaysia filing on Tuesday (April 4), the REIT said the issue price represents a discount of approximately 9.5% to the volume weighted average price of the units for the five market days up to and including April 3 of RM1.3254 per unit.

It is also an 8.4% discount to the adjusted closing price of the units on April 3 of RM1.31 after taking into account the last closing price of RM1.33 less the income distribution of two sen per unit.

The corporate exercise was first announced on Sept 2 last year, with the REIT stating that it plans to raise RM138 million via a private placement of up to 118.97 million new units or 16.16% of its total issued units, mainly for repayment of bank financing.

Kaf Investment Bank Bhd, CIMB Investment Bank Bhd and Kenanga Investment Bank Bhd are the joint placement agents for the exercise.