HONG KONG, Sept 26 (Reuters) - Yuexiu Real Estate Investment Trust plans to raise up to $415 million from the sale of new securities to help pay for the acquisition of one of the world’s tallest buildings, IFR reported on Wednesday, citing a term sheet of the transaction.
Yuexiu REIT is offering 904.5 million to 975.3 million units at a price of HK$3.3 each, the equivalent to a discount of 8.6 percent to its close on Tuesday, added IFR, a Thomson Reuters publication.
The trust will use the funds to buy the Guangzhou International Finance Center, the world’s 10th tallest building, from parent Yuexiu Property, IFR said.
BOC International, DBS, Goldman Sachs, JPMorgan, Morgan Stanley and Standard Chartered were hired as bookrunners on the deal. (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Ron Popeski)