KUALA LUMPUR, May 17 (Bernama) -- Pavilion Real Estate Investment Trust (Pavilion REIT) said it has fixed the issue price of the first tranche of its private placement exercise at RM1.22 per unit to raise approximately RM720 million. In a statement today, Pavilion REIT said that it is the largest private placement ever recorded for Malaysian REITs (M-REITs). 'The issue price represents a discount of approximately 6.6 per cent to the five-day volume weighted average market price of the units up to and including May 16, 2023 of RM1.

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