CapitaLand Ascendas REIT Raises $500 Million from Private Placement at $2.47 Per New Unit

The Edge Singapore05-29

CapitaLand Ascendas REIT has raised $500 million from a private placement of 202.43 million units priced at $2.47 each.

The issue price is a 5.2% discount to the volume weighted average price of $2.6059 per unit on May 27.

The shares dropped 1.2% in morning trading on Thursday.

This placement, launched to help fund the acquisition of additional assets, was 4.1 times subscribed.

Investors include new and existing unitholders, long only funds, real estate specialists, private wealth and multi-strategy investors, says CLAR.

On May 28, CLAR announced it is acquiring data centre 9 Tai Seng Drive, and 5 Science Park Drive for $700.2 million.

The two properties will increase the value of CLAR’s Singapore portfolio by 6.6% to $11.7 billion and the Singapore portfolio will account for 67% its AUM of $17.6 billion.

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