By Yang Huiwen

STARHILL Global Reit is looking to raise $337.3 million via a rights issue, saying it plans to use some of the money to revamp Wisma Atria.

The real estate investment trust - part-owner of Wisma Atria and Ngee Ann City - will issue one rights unit for every existing unit held at a price of 35 cents, a hefty 45.3 per cent discount to last Friday's closing price of 64 cents.

The proceeds raised will be used mainly to trim Starhill's existing debts, enhance its portfolio of assets and finance its acquisitions.

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