International asset management firm BlackRock Inc. has increased its stake in Singapore-listed Ascendas REIT (SGX:A17U) to 5 per cent by acquiring 274,000 new units in the REIT.
|BlackRock Inc. now holds just over 120 million units of Ascendas REIT representing a 5% stake|
The units were purchased via a market transaction totalling some S$596,661 which comes to about S$2.17 per unit purchased. Units of Ascendas REIT are currently trading at about S$2.17, down about 2.25 per cent from its previous close.
The firm now holds slightly over 120 million units of the industrial REIT via various BlackRock subsidiaries such as BlackRock Fund Advisors and BlackRock Life Limited.
BlackRock Inc. is an American-based investment management firm and is touted to be the world's largest asset manager.