ARA Logos Logistics Trust announces results of preferential offering

Published Tue, Jan 19, 2021 · 08:39 PM

ARA Logos Logistics Trust said in an update of its preferential offering that it has received valid acceptances and excess applications for a total of 205.4 million preferential offering units at the close of the offering on Jan 15.

This represents about 225.4 per cent of the total number of preferential offering units available, said ARA in a bourse filing on Tuesday.

The balance 15.7 million preferential offering units which were not validly accepted will be allotted to satisfy applications for excess new units, said ARA. Preference will be given to the rounding of odd lots.

A total of 91.1 million units will be issued at S$0.5525 to raise some S$50 million. They were offered on the basis of 77 preferential offering units for every 1,000 existing units held.

Post-completion, Logos Units No. 1 will collectively own an aggregate interest of 136.4 million units, representing approximately 10.7 per cent of the total number of 1.27 billion units in issue after the listing and quotation of the units.

The units will be listed and quoted on the mainboard from 9 am on Jan 25.