JP Morgan and United Overseas Bank have been appointed joint bookrunners and underwriters for the private placement.
According to the manager, $150 million of the gross proceeds will be used to partially finance the proposed acquisitions of all the units in Acacia Goulburn Trust and Acacia Arthur Trust, which hold the two properties in Sydney, Australia CICT had announced it was acquiring on Dec 3.
See: CICT acquires two Grade A office buildings in Sydney for $330.7 mil; this is the trust's first inroad into Australia
Approximately $45.9 million of the gross proceeds will be used to partially fund potential acquisitions in Singapore and other developed markets, while the remaining $4.1 million will be used to pay transaction-related expenses.
See also: Stoneweg: New sponsor, new chapter
Shares in CICT closed down 1 cent or 0.49% lower at $2.05 on Dec 6 before trading was halted this morning.
Cover picture of 100 Arthur Street: CICT
