Saizen: Announced details of a proposed RTO of Australian industrial assets.
1) Unitholders will be getting a residual liquidation amount of 9.87¢/unit.
2) A unit of Sime Darby (SDPSL) will pay Saizen X amount for new units, which will be issued at 3.484¢/unit. As a gauge, SDPSL has applied for a whitewash waiver if their stake crosses above the 30% mark, on an enlarged basis.
3) The REIT will then use this cash from SDPSL to pay for part of the acquisition, with the remaining to be debt-funded/further issue of Saizen units.
As limited info is provided in the announcement at this point (number of units to be issued to SDPSL), we are not able to ascertain a value on Saizen.
No comments:
Post a Comment