Fortune REIT completes acquisition of properties in Hong Kong

Fortune REIT, a property trust controlled by Hong Kong billionaire Li Ka-shing, completed the purchase of three properties in Hong Kong, it said in a statement to the Singapore stock exchange today.

The total acquisition cost was HK$2.09 billion ($374 million), including fees and expenses, it said. The purchase was partly funded by a rights issue and a term loan, and brings the trust’s asset value to HK$10.97 billion, it said.

Source : The Edge – 15 Oct 2009

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