Ascendas India Trust raises $150m from oversubscribed private placement

It will be used to fund a business park development in Bangalore.

Ascendas India Trust (a-iTrust) has raised $150m from a 4.1 times oversubscribed private placement of 99.47 million units, an announcement revealed.

Also read: Ascendas property fund to raise $100m through private placement

The private placement was upsized from the initial 66.313 million units totalling $100m. The issue price was fixed at $1.508 per unit.

Most of the proceeds will be used to partly finance the Phase 1 of a business park in Bangalore, India. $3m will be used to pay the expenses from the private placement, and another $3m will be for funding existing pipeline projects and repaying debts.

The trading of the units in SGX-ST is expected to start on 28 November.

Photo from a-iTrust website

Follow the link for more news on

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!

Exclusives

Is HDB resale a good investment?
OrangeTee’s Dallas Hassan and Huttons Asia Real Estate Groups’ Lee Sze Teck answer frequently-asked questions on HDB.
Spoof proof: How the new SMS Sender ID Registry prevents phishing
Phishing remains a huge problem in Singapore, with reported incidents jumping from 16 to 5,020 within four years.