Pavilion REIT's share price rise 1 sen after aborting placement exercise

PETALING JAYA: Pavilion Real Estate Investment Trust’s (Pavilion REIT) share price rose 0.73% this morning after it called off its placement exercise.
At 11.17am, its share price rose 0.73% or 1 sen to RM1.38 with 8,100 shares traded. The stock fell 0.7% or 1 sen to close at RM1.37 with 250,300 shares traded last Friday.
Pavilion REIT scrapped its placement exercise to partly fund the proposed acquisition of
Elite Pavilion Mall for RM580 million cash, opting instead for more borrowings.
The company said the decision was made after taking into consideration the prevailing market price performance of the units as well as the debt funding option and capacity available.