Ascott Residence Trust (Ascott Reit) on Tuesday said it has successfully raised gross proceeds of S$150 million through a private placement of 114.9 million new units at S$1.305 apiece.
The issue price carries a 4.6 per cent discount to the reit\'s adjusted volume weighted price of S$1.3685 per unit for trades done on Monday.
Ascott Reit plans to use the proceeds to fund potential future acquisitions, finance asset enhancement initiatives, repay existing debt and for general working capital.
It expects to issue the new units on Feb 6, 2013 and start trading them on the Singapore Exchange at 9am on the same day.
The issue price carries a 4.6 per cent discount to the reit\'s adjusted volume weighted price of S$1.3685 per unit for trades done on Monday.
Ascott Reit plans to use the proceeds to fund potential future acquisitions, finance asset enhancement initiatives, repay existing debt and for general working capital.
It expects to issue the new units on Feb 6, 2013 and start trading them on the Singapore Exchange at 9am on the same day.