areit-kicks-off-fundraising-with-placement

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 taken up by existing unitholders who took the opportunity to move early to prevent their holdings from being diluted. Since the preferential units will be sold at the same price as the placement, there was...
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