SINGAPORE - Ascendas Real Estate Investment Trust , Singapore's largest industrial landlord, said it has raised about $300 million in new capital by selling 258 million new units at $1.16 through a private placement.
The property trust also plans to raise another $108 million via a rights issue by asking existing shareholders to buy one new unit for every 15 held at a price of $1.13 to $1.16 a unit, it said in a statement late on Thursday.
Citigroup and Macquarie Capital Securities were joint lead managers and underwriters for the equity fund raising.
Ascendas Reit said it was raising money to fund development projects, as well as to reduce debt and strengthen its balance sheet. -- REUTERS
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