Embassy REIT completes fund raise of $501 million
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Proceeds to help with ETV acquisition
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Proceeds to help with ETV acquisition Embassy REIT said on Monday that it had completed a capital raise of $501 million through an Institutional Placement of units.
The Securities Committee of the board of Embassy Office Parks Management Services Private Ltd., manager to Embassy REIT, approved the issuance and allotment of 111,335,400 new units through this placement on December 22, the company said in a release.
Trading of these units is expected to commence on or about December 24 on the National Stock Exchange and the BSE.