The manager of Aims Apac Real Estate Investment Trust (AA Reit) plans to launch an equity funding exercise to raise gross proceeds of approximately S$100 million, it announced on Wednesday (May 31).

This comprises a private placement of between 56 million and 57.7 million new units to raise around S$70 million in gross proceeds, and a non-renounceable preferential offering of up to 25.4 million new units to raise gross proceeds of about S$30 million.