Following the launch of a private placement on Sept 9, the manager of Ascott Residence Trust (ART) has announced that 152.6 million new stapled securities have been placed at an issue price of 98.3 cents per new stapled security, raising $150 million in gross proceeds.


See: Ascott Residence Trust buys Texas student accommodation for US$70 mil; launches private placement to raise $150 mil


The issue price stands at the lower end of the private placement’s launch range between 98.3 cents and $1.014. It represents a 5.5% discount to the volume weighted average price (VWAP) of $1.040 per Stapled Security as well as a 5% discount to the adjusted VWAP of $1.034 per stapled security.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook