ESR-LOGOS REIT (SGX:J91U) has launched a non-renounceable preferential offering to raise SG$94 million, according to a Thursday filing on the Singapore Exchange.

Existing unitholders can subscribe for up to 308.2 million new units at SG$0.305 each, based on a ratio of four new units for every 100 existing units held as of the record date.

The issue price represents a premium over recent market values, including SG$0.275 before the acquisition announcement on July 31, 2024, and a volume-weighted average price of SG$0.2882 as of Oct. 9.

Proceeds will primarily fund acquisitions, with about SG$92.5 million allocated for that purpose, and SG$1.5 million for related fees.