Economics
Viva Trust to Raise S$365 Million Through Singapore Share Sale
This article is for subscribers only.
Viva Industrial Trust, a Singapore business and real estate trust, said it will raise S$365 million ($293 million) through a share sale to Chinese property tycoon Tong Jinquan and the public.
Tong, the chairman of Shanghai Summit Property Development Ltd., will purchase S$200 million of shares in Viva Industrial as a cornerstone investor, the trust said in a filing to the Monetary Authority of Singapore today. Viva Industrial will sell 468 million shares at 78 Singapore cents each in the island-state, according to the filing.