Hektar Real Estate Investment Trust (Hektar REIT) has obtained Bursa Malaysia Securities Bhd’s approval to issue up to 42.08 million new consideration units as part of its proposed acquisition and lease transaction.
The manager said the exchange approved the listing and quotation of up to 42,075,256 consideration units under the proposed acquisition and lease arrangement.
Among them, Hektar REIT’s adviser, UOB Kay Hian (Malaysia) Sdn Bhd, must confirm that at least 25% of the REIT’s units remain in public hands upon completion of the issuance, in line with Bursa’s public unit holding spread requirements.
The acquisition is referred to is the RM125 million KYS KL East International School which will be then leased back to the tenant.
