Feb 10 (Reuters) - Link Real Estate Investment Trust (Link REIT) plans to issue HK$18.80 billion ($2.39
billion) of rights units, it said on Friday, to strengthen its
capital base and position for its next growth phase.
Link REIT proposed to issue 425.64 million rights units to
existing holders in the proportion of one rights unit for every
five held, it said in a filing to the Hong Kong bourse.
The rights units will be issued at HK$44.20 each,
representing a 29.6% discount to Thursday's close of HK$62.80
per unit before a trading halt. Trading in the units will resume
on Monday.
Link REIT, which has a market value of $17.03 billion, said
the proceeds will be used to repay existing debt, for general
working capital and for future investment in retail, car park,
office and logistics sectors across Asia Pacific.
($1 = 7.8497 Hong Kong dollars)
(Reporting by Donny Kwok
Editing by David Goodman)
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