To buy two industrial properties, placement of 68.8m new units. Axis REIT (Axis) has proposed to acquire two industrial properties in Selangor for RM85m and RM49m cash respectively, and placement of 68.8m new units(translating to 22.4% of Axis’ existing units) that will raise an estimated RM130m, based on an indicative issue price of RM1.89/unit. The properties will be renamed Axis PDI Centre and Axis Technology Centre and fetch yields of 9.5% and 8.1% p.a., vis-à-vis Axis’ current trading yield of 8.2%.
Axis REIT - Acquiring Two Industrial Properties For RM134m, Proposes Placement Of 68.8m New Units - 4/6/2010
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