Placement shows Reits back on the ascendant

Singapore''s A-Reit raises funds for new acquisitions.

Citigroup closed an S$115 million $67 million follow-on offering for Ascendas Real Estate Investment Trust yesterday Tuesday. The success of the deal showed that investors may becoming re-interested in yield plays in more volatile and bearish market conditions.

The offering was marketed on the basis of a fixed issuance amount and a price range of S$1.3825 to S$1.425. This led to the issuance of 82.14 million new units at S$1.40 per unit, which represented an...

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