Lendlease Global Commercial REIT announced on Feb, 25 2026 the launch of an underwritten non-renounceable preferential offering to raise approximately 196.6 million Singapore dollars.

The fundraising will see 352.36 million new units issued at 0.558 Singapore dollars each, representing a 6.0% discount to the volume-weighted average price of 0.5934 Singapore dollars on Feb, 24 2026. Eligible unitholders will receive 119 new units for every 1,000 units held, with fractions to be disregarded.

DBS Bank, Oversea-Chinese Banking Corporation and United Overseas Bank are acting as joint underwriters. Lendlease Corporation Limited, the sponsor of the REIT, has committed to take up its entire entitlement.

Proceeds are earmarked as follows: about 100.8 million Singapore dollars to fund the purchase of the remaining 30% stake in PLQ Mall and its trustee-manager, roughly 12.9 million Singapore dollars for related transaction and refinancing costs, and around 82.8 million Singapore dollars to reduce existing debt. Any balance will be used for general corporate or working-capital purposes.

The new units, to be issued under an existing general mandate, are expected to list on Mar, 26 2026, subject to regulatory approvals and customary conditions. They will rank pari passu with existing units, including the right to distributions accruing from Jan, 1 2026.