LippoMalls (D5IU) Rights Issue Oversubcribed

Over subscription  rate  at 165.1%.  This goes to show investors favour this counter, very strong supporters.  Hoping to buy this counter one day.

Ms Viven G. Sitiabudi, Chief Executive Officer of the Manager (LMIRT) said :-

"LMIR Trust's Rights Issue was an overwhelming success with a subscription level of
165%. In fact, it is our understanding that this take-up rate is one of the highest in S- REIT sector since 2009.  We are delighted and grateful for the strong support shown from our existing unitholders and would like to take the opportunity to welcome our new unitholders who purchased the nil-paid rights. This is a strong vote of confidence in both the strong growth potential for LMIR Trust and its future direction.  Net proceeds of approximately S$332 million from the rights issue will be used to partially fund the acquisition of Pluit Village and Plaza Medan Fair, two quality malls with attractive yields. Our growth will be fast-tracked with the addition of the two malls, expanding our portfolio to 10 retail malls and 7 retail spaces, and increasing total assets by 30% to approximately S$1.6 billion, providing us with enhanced scale and visibility,"