Business & Finance
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Business and Finance
Mon, January 16, 2012
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Fri, January 13, 2012
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First Asset REIT Income Fund Announces Completion of Rights Offering
January 13, 2012 15:55 ET
First Asset REIT Income Fund Announces Completion of Rights Offering
TORONTO, ONTARIO--(Marketwire - Jan. 13, 2012) -First Asset REIT Income Fund (TSX:RIT.UN) (the "Fund") announces that it has completed the offering of rights pursuant to the short form prospectus dated November 16, 2011. The offering was over-subscribed and accordingly the maximum of 2,630,161 units were issued for net proceeds of approximately $27.3 million, after deducting expenses of the offering. The proceeds of the offering will provide the Fund with additional capital that can be used to capitalize on attractive investment opportunities, and it is also expected to increase the trading liquidity of its units and reduce the management expense ratio of the Fund.
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