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New units from a-iTrust's private placement to start trading on Thursday

SOME 99.5 million new units in Ascendas India Trust (a-iTrust) from a private placement will start trading on the Singapore Exchange at 9am on Nov 28, the trustee-manager said in a bourse filing on Thursday morning.

The placement was 4.1 times subscribed and the number of new units issued was increased to 99.5 million, from a minimum of 66.3 million. The issue price was fixed at S$1.508 per new unit, the top end of a S$1.465 to S$1.508 range.

The new units will rank pari passu in all respects with units currently in issue, and include the right to a-iTrust's distributable income from the day the new units were issued under the private placement, except for distributable income from Oct 1, 2019 to Nov 27, 2019.

Gross proceeds from the placement will be used to fund its potential investment in a business park in Bangalore, the trustee-manager had said in an earlier announcement.

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a-iTrust units closed down S$0.01 or 0.6 per cent to S$1.56 on Wednesday.