CitySpring Infrastructure Trust (CITY.SI), a fund managed by Singapore state investor Temasek, on Thursday announced a rights issue to raise about $210.2 million in gross proceeds to strengthen its balance sheet.
Existing unitholders will be asked to buy 11 new CitySpring units for every 20 held at $0.39 per rights unit.
Existing unitholders will be asked to buy 11 new CitySpring units for every 20 held at $0.39 per rights unit.
Temasek (TEM.UL), which owns about 28% of CitySpring, will support the rights issue by undertaking to subscribe for up to 85% of the rights shares.
CitySpring, which suspended trading in its units after the midday break, was last traded at $0.535 a unit.
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