OUE H-Trust's rights issue 140 per cent subscribed

SINGAPORE - OUE Hospitality Trust (OUE H-Trust) said on Wednesday (April 6) that its rights issue, which closed on Monday, was nearly 140 per cent subscribed.

OUE H-Trust is a stapled group comprising OUE Hospitality Real Estate Investment Trust (OUE H-REIT) and OUE Hospitality Business Trust (OUE H-BT).

It had announced in March that the rights issue was to raise S$238.6 million to fund the acquisition of the Crowne Plaza Changi Airport Extension (CPEX).

The rights stapled securities will be listed and quoted on the Singapore Exchange mainboard with effect from 9am on April 13.

kohping@sph.com.sg