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KIP REIT Fixes Private Placement Issue Price

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KIP Real Estate Investment Trust (KLSE:KIPREIT) has fixed its private placement issue price at 0.815 ringgit per placement unit, following a bookbuilding exercise, according to a Tuesday filing to the Malaysian stock exchange.

The placement price is a 4% discount to the 5-day volume-weighted average market price of 0.8486 ringgit.

It also represents a 3% discount to the adjusted five-day VWAP of 0.8404 ringgit after taking into account the income distribution of 0.0082 ringgit per unit for the period from July 1 to Aug. 24.

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