American-based global asset manager Massachusetts Financial Services (MFS) has increased its stake in Singapore-listed Ascendas India Trust(a-itrust)(SGX:CY6U) to 5.01 per cent from 4.95 per cent with the acquisition of new 611,000 units from the market. The units were purchased at S$0.833 each.
Ascendas India Trust is the first Indian property trust in Asia. Its principal objective is owning income-producing real estate throughout India including world-class IT business parks such as the International Tech Park Bangalore and International Tech Park Chennai.
|Photo: Ascendas India Trust Prospectus|
MFS holds deemed interests in Ascendas India Trust through multiple subsidiaries and various clients of MFS which holds units in Ascendas India Trust for which MFS has investment and/or voting discretion. The acquisition brings total holdings in the trust to 45,754,000 units from 45,143,000 units previously. Ascendas India Trust closed the trading day at S$0.82.