Still reeling from the COVID pandemic, Hektar REIT is announcing a private placement of up to 23,098,000 new units, representing up to 5% of its total issued units.

The Proposed Private Placement will mainly allow Hektar REIT to raise the necessary funds for working capital and capital work in progress to fund the cost of Hektar REIT's existing day-to-day operations as a whole by providing more flexibility in terms of cash flow management.