Singapore-listed Ascendas Real Estate Investment Trust A-Reit on Friday raised S$406 million $325 million of fresh equity that will be used towards the funding of two new properties.
The follow-on placement attracted a massive S$1.3 billion of demand from more than 100 institutional investors, according to a company statement. That allowed the upsize option to be exercised in full and the price to be fixed close to the top of the offering range.
Just like A-Reit’s previous placements, the deal had strong support from existing unitholders, as well as from global real estate specialists and other long-only funds. The bookrunners hadn’t lined up any anchors before launch,...
¬ Haymarket Media Limited. All rights reserved.
