Hektar Real Estate Investment Trust (KLSE:HEKTAR) entered into a conditional sale and purchase agreement to acquire Kolej Yayasan Saad Melaka Campus from Kys College Sdn. Bhd. for MYR 150 million on September 11, 2023.

Under the terms, MYR 7.5 million shall be paid as cash deposit. The purchase will be financed by Hektar REIT through a combination of borrowings, internal funds and/ or proceeds to be raised from placement of 99.8 million new units. Completion of the transaction is subject to approvals of unitholders and board of Hektar REIT, Bursa Securities for the listing of placement units, state authority, Kys College board and shareholders, completion of legal and financial due diligence review and the completion of the proposed placement of units.

The transaction is expected to complete in the second quarter of 2024. Asia Equity Research Sdn. Bhd.

and UOB Kay Hian Securities (M) Sdn Bhd. acted as financial advisors for Hektar REIT.