CIT to launch private placement of new units to raise S$28m

Mainboard-listed Cambridge Industrial Trust (CIT) said on Monday it plans to raise up to S$28 million through a private placement of new units.

It will issue the new units at a price of 39.2 cents each. The price represents a 5.5 per cent discount to CIT’s last closing price of 41.5 cents.

CIT said the number of units to be placed out has yet to be determined.

Proceeds from the exercise will be used for asset enhancement and general working capital purposes.

Source : Channel NewsAsia – 27 Jul 2009

Join The Discussion

Compare listings