F-Reit secures equity funding

Singapore-listed Fortune Reit raised $148 million yesterday (June 15) from a 184.6 million unit placement to institutional investors led by DBS, HSBC, JPMorgan and UBS. The deal was priced at HK$6.23 per unit, which represented a 4.93% discount to the VWAP (Volume Weighted Average Price), or a 4.15% discount to the stock's HK$6.5 close on Tuesday.