Suntec Real Estate Investment Trust (REIT) will seek approval from unit holders to sell up to $450 million in convertible bonds and to issue new units.Suntec Reit has issued a circular to unit holders to approve the $941.5-million purchase of a one-third stake in One Raffles Quay from Cheung Kong Holdings.
The trust seeks approval to sell units to Cheung Kong as well as a general mandate to sell units and convertible bonds representing up to 50 per cent of the total units in issue at Sept 30. Suntec Reit will hold the unit holders meeting in ingapore on Oct 8. — DOW JONES
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