Ascendas Reit slumps on S$1.2b equity fundraising

Singapore

UNITS of Ascendas Real Estate Investment Trust (Ascendas Reit) lost ground on Wednesday after its manager announced it was readying a war chest to acquire data centres and office buildings overseas.

The counter dipped almost 7 per cent to an intra-day low of S$2.97 within the first half hour of trading, close to the issue price of S$2.96 announced earlier in the morning for the preferential offering.

It then crept up …

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