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 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.