Institutional placement pricing set at recent average closing prices, allowing a limited discount with unitholder approval. Institutional placement price shall be the average of the weekly high and low of the closing prices of the same class of units on the stock exchange during the two weeks preceding the relevant date; the InvIT may offer a limited discount on that price subject to unitholder approval. 'Relevant date' for institutional placement is the date of the meeting when the manager's board decides to open the issue.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Institutional placement pricing set at recent average closing prices, allowing a limited discount with unitholder approval.
Institutional placement price shall be the average of the weekly high and low of the closing prices of the same class of units on the stock exchange during the two weeks preceding the relevant date; the InvIT may offer a limited discount on that price subject to unitholder approval. "Relevant date" for institutional placement is the date of the meeting when the manager's board decides to open the issue.
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