Ascendas Reit to place out 178 million units to raise S$450m

Singapore

ASCENDAS Reit plans to raise gross proceeds of at least S$450 million through a private placement of 178 million new units at between S$2.528 and S$2.606 per unit.

That represents a discount of between 3.65 to 6.53 per cent of the volume weighted average price (VWAP) of S$2.7047 per unit traded on Thursday. The issue price will be determined following a book-building process.