Elite Commercial REIT (SG:MXNU) has released an update.
Elite Commercial REIT has successfully utilized approximately 96.4% of the £28.0 million raised from its Preferential Offering to repay existing debts, including part repayments of two bank loans, aligning with their initial debt repayment strategy. A minor portion of the proceeds, about 0.9%, covered the offering’s fees and expenses. The company will continue to update stakeholders as the remaining balance of the proceeds is used.
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