Date : 28 November 2023

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING KIP REAL ESTATE INVESTMENT TRUST ("KIP REIT") - PROPOSED ACQUISITION BY PACIFIC TRUSTEES BERHAD, ACTING AS THE TRUSTEE FOR AND ON BEHALF OF KIP REIT, OF KIPMALL KOTA WARISAN FOR A CASH PURCHASE CONSIDERATION OF RM80.0 MILLION; AND - PROPOSED PRIVATE PLACEMENT OF NEW UNITS IN KIP REIT TO RAISE APPROXIMATELY RM10.0 MILLION AT AN ISSUE PRICE TO BE DETERMINED LATER (COLLECTIVELY REFERRED TO AS "PROPOSALS")

KIP REAL ESTATE INVESTMENT TRUST

Type Announcement
Subject NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS)
FUND RAISING
Description 
KIP REAL ESTATE INVESTMENT TRUST ("KIP REIT")

- PROPOSED ACQUISITION BY PACIFIC TRUSTEES BERHAD, ACTING AS THE TRUSTEE FOR AND ON BEHALF OF KIP REIT, OF KIPMALL KOTA WARISAN FOR A CASH PURCHASE CONSIDERATION OF RM80.0 MILLION; AND 
- PROPOSED PRIVATE PLACEMENT OF NEW UNITS IN KIP REIT TO RAISE APPROXIMATELY RM10.0 MILLION AT AN ISSUE PRICE TO BE DETERMINED LATER

(COLLECTIVELY REFERRED TO AS "PROPOSALS")

Reference is made to KIP REIT’s announcements on 16 June 2023, 27 July 2023 and 21 August 2023 in relation to the Proposals (“Announcements”). Unless otherwise stated, defined terms in this announcement shall carry the same meanings as defined in the Announcements.

 

On behalf of the Board, M&A Securities wishes to announce that the issue price for the first tranche of the Placement Units in respect of the Proposed Private Placement has been fixed at RM0.815 per Placement Unit.

 

The issue price of RM0.815 represents a discount of RM0.0822 or approximately 9.16% to the 5-day VWAMP of KIP REIT Units up to and including 27 November 2023 of RM0.8972, being the market day immediately preceding the price-fixing date.

 

This announcement is dated 28 November 2023.



Announcement Info

Company Name KIP REAL ESTATE INVESTMENT TRUST
Stock Name KIPREIT
Date Announced 28 Nov 2023
Category General Announcement for PLC
Reference Number GA1-28112023-00081


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