When I read that there was going to be another upcoming rights issuance process from another SREIT that I have held for many years, namely Capitaland Ascendas (“CLAR”), I almost fainted. It is only emerging with a pitiful situation from the disastrous rights issue process by Lendlease Global Commercial REIT (“LREIT”). 62.2% Take the rate. Thus the LREIT was heavily undersubscribed and the joint underwriters, DBS and Friends were forced to spend the money S$74.3mil To pick up those extra units that no one wanted. Now, we have CLAR coming to join in the fun during the US-Iran Middle East war. I would say the timing is terrible but then again, CLAR is in a better position than LREIT because it is a huge REIT with 222 investment properties as of December 31, 2025, while LREIT on the other hand has only 4 investment properties or 5 if you calculate it.
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