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.

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