RHB IB acquires more SunREIT units, brings total to 42m

KUALA LUMPUR: RHB Investment Bank Bhd (RHB IB) has purchased another 59,000 units in Sunway Real Estate Investment Trust (SunREIT) on Monday, July 26 for 90 sen each, it announced on Bursa Malaysia on Tuesday.

In total, it had acquired 41.81 million SunREIT units since July 8, according to Bursa filings.

As the stabilising manager, RHB IB has been given an over-allotment of 87.1 million units. Thus, it may buy up to 87.1 million units to undertake the stabilising action.

During the initial public offering (IPO), 1.65 billion new units were placed out at an institutional price of 90 sen apiece and retail price of 88 sen apiece.

On Monday, the bank announced that it had acquired 150,000 units in SunREIT for between 89 sen and 89.5 sen apiece.
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