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Ascendas Real Estate Investment Trust | Buy

Dec 10 close: S$2.28

Target price: S$2.50

OCBC Investment Research, Dec 10

ASCENDAS Real Estate Investment Trust (A-Reit) has proposed an equity fund raising exercise (private placement and preferential offering) to raise gross proceeds of about S$408.3 million. It also proposed to acquire a business park named One@Changi City located at Changi Business Park. The purchase consideration is S$420 million, of which about S$210 million would be satisfied by the...

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