A-Reit placement

A-Reit issues $241 million worth of new units

The deal marks the first equity fundraising in the Singapore Reit sector this year and is priced at the bottom of the range for an adjusted yield of 4%.
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Singapore Science Park, which is owned by A-Reit, is home to more than 350 multinationals </div>
<div style="text-align: left;"> Singapore Science Park, which is owned by A-Reit, is home to more than 350 multinationals </div>

Singapore-listed Ascendas Real Estate Investment Trust A-Reit has raised S$298.5 million $241 million from a follow-on share placement that will be used to fund a variety of projects, including asset enhancements and the acquisition of a business property in Shanghai.

The deal, which was completed yesterday, is the first equity fundraising in the Singapore Reit sector this year. Last week, ML Hospitality Trusts, which was set to own six hotels in Singapore, Australia and Japan at the time of listing, called off an initial public offering of up to $369 million due to disappointing demand.

The A-Reit placement too wasn’t the kind of blow-out deal that...

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