Lendlease Global Commercial REIT launches S$196.6 million preferential offering

SGX Filings

Feb 27

Lendlease Global Commercial REIT announced on Feb, 25 2026 the launch of an underwritten non-renounceable preferential offering aimed at raising about 196.6 million Singapore dollars.

The trust will issue 352.36 million new units 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 fractional entitlements disregarded.

DBS Bank, Oversea-Chinese Banking Corporation and United Overseas Bank are underwriting the sale, while sponsor Lendlease Corporation has undertaken to subscribe fully for its allotted units.

Proceeds are earmarked mainly to finance the purchase of the remaining 30% stake in PLQ Mall and its trustee-manager (about 100.8 million Singapore dollars), cover related transaction and fundraising expenses (about 12.9 million Singapore dollars) and pare down existing debt (about 82.8 million Singapore dollars).

The new units will rank pari passu with existing units and are expected to start trading on Mar, 26 2026.

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