K-Reit plans $774 million rights issue to fund acquisition

Raffles Quay, a K-Reit property

Shares in K-Reit Asia, a Singapore-listed real estate investment trust focusing on commercial buildings, gained 1.1% yesterday as the company provided further details of its acquisition of an office tower in Singapore’s central business district at an estimated cost of S$1.57 billion ($1.2 billion) and the proposed rights issue that will provide part of the funding.