Ascendas Hospitality's Trust's Park Hotel in Singapore.Ascendas Hospitality's Trust's Park Hotel in Singapore.

73,530,000 new units of Ascendas Hospitality Trust (SGX:Q1P) were listed on the Singapore Exchange (SGX) at 9 am today. The units, listed at a price of SGD0.68 per stapled security, were issued in pursuant to a private placement exercise announced 31 March.

The private placement raised about SGD50 million, part of which will be used to fund the acquisition of a hotel in Japan. With this latest issue, the number of units in Ascendas Hospitality Trust now stands 1,108,204,786 units.

The Singapore-listed collective investment announced its intention on 26 March to acquire the Osaka Namba Washington Hotel Plaza for a purchase consideration of JPY8.9 billion (SGD110.8 million). The property would be Ascendas Hospitality Trust’s second acquisition since its initial public offering in July 2012 and the second Japanese asset in its portfolio.

UBS AG, Singapore Branch was appointed as the sole lead manager, bookrunner
and underwriter in relation to the private placement.

Units of Ascendas Hospitality Trust finished 1.5 % higher from the previous day’s close on the SGX at SGD0.695.

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.