Ascendas India Trust raises up to $100m in private placement

It will pay debts from the acquisition of warehouses.

Ascendas India Trust (a-iTrust) secured up to $100m from an oversubscribed private placement.

According to an announcement, the private placement was two times covered. The number of new units to be issued increased from 73,029,000 units to 97,371,000 units.

Shares were priced $1.027 per new unit.

About $84m will go to repaying debts that financed the acquisition of operating warehouses at the Arshiya Free Trade Warehousing Zone on 23 November 2017.

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!