SINGAPORE: Viva Industrial Trust (VIT), a Singapore-focused business park and industrial property trust, said it raised the size of a private placement following strong demand from investors.
VIT said it received subscriptions exceeding its original offer size of $40 million, and as a result, exercised the upsize option to increase it to $63 million.
At 78.5 cents per new stapled security, a total of 80.3 million new stapled securities will be issued.
The private placement exercise opened to strong demand on June 4 and received firm support from both institutional and private investors, which enabled VIT to raise $63 million from investors in just two days, said the trust manager.
