Acquisitions underscore placements for Ascott and CR Gas

Ascott Reit raises $174 million from independent investors ahead of a preferential offer, while China Resources Gas taps the market for $317 million immediately after announcing a new asset injection from its parent.

Two equity placements that were both linked to acquisitions were in the market yesterday, raising a combined $491 million. But while they both achieved their funding targets, they had a completely different feel to them.

The smaller of the two deals was offered by Ascott Residence Trust, a Singapore-listed real estate investment trust that focuses primarily on serviced apartments and is backed by blue-chip property developer CapitaLand. The company was looking to raise...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...