Lendlease Completes Acquisition of 30% Stake in PLQ Mall,with Full Proceeds from Fundraising Allocated

NewTimeSpace News: On March 26, 2026, the manager of Lendlease announced the completion of the acquisition of a 30% stake in PLQ Mall via an official notice. According to the announcement, Lendlease raised a total of approximately S$196.6 million through an underwritten non-renounceable preferential offering.

The full use of the raised funds has been confirmed: approximately S$100.8 million (accounting for 51.3% of the total fundraising proceeds) was used to pay the consideration for this acquisition; approximately S$12.9 million (6.6%) was earmarked for covering transaction, equity financing and debt refinancing costs related to the acquisition and the fundraising exercise; the remaining approximately S$82.8 million (42.1%) will be used to repay existing debts.

The announcement specified that upon the completion of this acquisition, Lendlease will hold a 100% equity stake in PLQ Mall, achieving full control of this suburban retail asset in Singapore and further optimizing its asset portfolio structure.

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