Ascendas Hospitality Trust property in Singapore Park Hotel Clarke QuayAscendas Hospitality Trust's property in Singapore, Park Hotel Clarke Quay

Singapore-listed Ascendas Hospitality Trust (A-HTRUST) (SGX:Q1P) has issued 161,947,000 new stapled securities at an issue price of S$0.885 today. The new units started trading on the Singapore Exchange at 9 am this morning.

Ascendas Hospitality Trust Issues 162 million New Units
Ascendas Hospitality Trust has announced the issues of the new units which will be largely used to fund the  acquisition of Park Hotel Clarke Quay. 

The new units were issued on the basis of 2 new stapled securities for every 25 existing stapled securities in A-HTRUST held as at 1700 hours on 7 June 2013 to entitled unit holders. With the issue of the new units, the total number of stapled securities issued in A-HTRUST stands at is 967,017,324 as of today.

A-HTRUST has earlier announced that it will issue new units in the stapled security largely as a means to fund the acquisition of Park Hotel Clarke Quay, its first property in Singapore. A-HTRUST is a stapled security comprising of Ascendas Hospitality REIT and Ascendas Hospitality Business Trust.

Units of A-HTRUST are currently trading slightly lower from its previous close at S$0.88.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.