Shares of CitySpring Infrastructure Trust (CITY.SI), managed by Singapore state investor Temasek, fell as much as 3.7% after announcing a rights issue to raise about $210 million in gross proceeds to strengthen its balance sheet.
By 9:01 a.m. on Friday, CitySpring was trading at $0.515 on a volume of 428,000 units, around 1.1 time its average daily traded volume over the last 30 days.
By 9:01 a.m. on Friday, CitySpring was trading at $0.515 on a volume of 428,000 units, around 1.1 time its average daily traded volume over the last 30 days.
Existing unitholders will be asked to buy 11 new CitySpring units for every 20 held at $0.39 per rights unit, the company said in a statement.
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