Ascendas Reit placement raises $208 million

Singapore's Ascendas Reit A-Reit raised S$301.5 million $208 million in a private placement on Tuesday night. The deal brings the total capital raised by the Reit so far this year to approximately S$700 million.

The primary offering consisted of 185 million new units, which were offered at a price range of between S$1.63 and S$1.70 per unit. This translates into a discount range of between 3.8% and 7.8% to the closing price on Friday Monday was a public holiday in Singapore and the stock was suspended on Tuesday.

The deal priced at the bottom of the range, S$1.63, suggesting investors demanded the full 7.8% discount. At the close of trading yesterday, the Reit had...