498m new Ascendas Reit units to start trading on Dec 6

ABOUT 498 million new units in Ascendas real estate investment trust (Ascendas Reit) will begin trading on the Singapore bourse at 9am on Friday.

The new units has been issued at S$2.63 apiece, under the Reit's S$1.31 billion rights issue. This is to partially fund its acquisition of 30 business park properties in the US and Singapore from its sponsor CapitaLand for some S$1.66 billion.

With the issuance, the total number of Ascendas Reit units in issue will increase to 3.61 billion.

Holders of the rights units will be entitled to any distributions which may accrue from Oct 1 to Dec 31, and all distributions thereafter.

Units in Ascendas Reit closed at S$3.01 on Thursday, up 0.7 per cent, or two Singapore cents.