Fortune Reit raises $125 million from upsized placement

The money will help fund a proposed $754 million acquisition of a Hong Kong shopping mall from Cheung Kong, which is the largest owner of the Li Ka-shing-backed Reit.

Fortune Reit will use the proceeds to buy Kingswood Ginza mall in Hong Kong's New Territories

Anette Jönsson

July 31, 2013

Fortune Real Estate Investment Trust, which is backed by investor Li Ka-shing and focuses on shopping malls and other retail properties in Hong Kong, has raised HK$975 million ($125 million) from a sale of new units, after upsising the deal by 23.5%.

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