Elite Commercial REIT is raising equity with the launch of a preferential offering to existing shareholders. The trust will issue 103,354,690 new units at £0.27 per unit to raise £28 million (or about S$47.2 million), with the aim of improving its balance sheet. Its gearing level would be reduced from 45.8% (as of September 30th) to 43.5%, pro-forma, after the offering.