Japan Real Estate Investment: Corp Decides Price for New Shares Issuance

TOKYO, Mar 25 (Pulse News Wire) – Japan Real Estate Investment Corporation (8952.T) announced today that its board meeting held on March 25 decided the price for the issuance of new shares and sale of existing ones. For the public offering, 1,000,000 investment units will be issued at a price of ¥10,000 per unit, totaling ¥10 billion.

Of these, 70,493 units will be sold to overseas investors outside the United States and Canada. Subscription applications will be accepted until March 26, with payment due on March 27 and delivery scheduled for March 28. Additionally, up to 200,000 investment units will be offered through an oversubscription process at ¥10,000 per unit, totaling ¥2 billion.

Applications for this will also be accepted on March 26, with payments due by March 27 and deliveries set for April 2. Funds raised from the general offering will partially repay a short-term loan of ¥15 billion used to acquire additional assets such as the Shinjuku Eastside Square property. Any remaining funds will be kept as cash reserves for future asset acquisitions or debt repayment.