A-Reit kicks off fundraising with placement

The industrial Reit raises $201 million from a well-received placement that will be followed by a $75 million preferential offering.

Ascendas Real Estate Investment Trust A-Reit has become the first Singapore-listed entity to raise new equity this year through the completion of a S$299.3 million $201 million placement of new units to institutional investors. The deal, which was sealed late on Thursday Hong Kong time, is the first leg of a fundraising plan that will also see A-Reit seek approximately S$110 million from a preferential offering to existing shareholders.

According to sources, the great majority of the placement too was...

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