Ascendas REIT plans private placement to raise S$450m mainly for recent UK acquisition

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SINGAPORE (Sept 6): Ascendas REIT is raising gross proceeds of no less than S$450 million in a private placement to raise funds for acquisitions and a new development.

The private placement will sell about 178 million new units in Ascendas REIT to institutional and other investors at an issue price of between S$2.528 and S$2.606.

Of the gross proceeds, S$250 million or 55.5% will go towards partially funding the acquisition of a second UK logistics portfolio, S$109 million or 24.2% will be used to partially fund the proposed development of a build-to-suit facility in Singapore while... (Click here to read the full story)