Global investment management group Aberdeen Asset Management has increased its stakes in Singapore-listed stapled security Ascendas Hospitality Trust (A-HTrust) (SGX:Q1P) via a market transaction of about 17 million units costing some S$15 million.
|Ascendas Hospitality Trust has recently announced the acquisition of its first Singapore property in Park Hotel Clarke Quay.|
Aberdeen Asset Management is a wealth management firm that manages assets for both institutional and retail clients from around the world. The group has increased its stake through purchases of units via its subsidiaries Aberdeen Asset Management Asia Limited and Aberdeen International Fund Managers Limited, which increased its stake by 17,200,000 units and 13,007,000 units respectively. This brings each of their controlling stake in A-HTrust to 12.7 percent and 7.6 percent respectively.
The units were acquired for a total price of S$15,222,000 via a market transaction. This translates to a purchase price of about S$0.89 per unit. Units of A-HTrust are currently trading at S$0.91 on the Singapore Exchange.
A-HTrust is a stapled security that comprises of Ascendas Hospitality REIT and Ascendas Hospitality Business Trust. The trust currently holds a portfolio of 10 properties across Australia, China and Japan.