KUALA LUMPUR: AME Elite Consortium Bhd aims to raise RM254.8mil from its proposed establishment and listing of a real estate investment trust (AME-REIT) on Bursa Malaysia’s Main Market by the second quarter of 2022 (Q2’22).

       In a statement yesterday, the integrated industrial space solutions provider said of the RM254.8mil proceeds, which is based on an illustrative offer price of RM1 per unit, RM160.5mil would be used for future industrial property development and investment projects, including land acquisitions and joint ventures.

       “A total of RM90mil will be used to repay borrowings, and RM4.3mil for expenses related to establishing the REIT,” it said. — Bernama