Banking and financial services provider J.P. Morgan Chase & Co. has reduced its stake in Singapore-listed Ascendas India Trust (SGX:CY6U) by 8,883,173 voting units.

“J.P. Morgan Chase & Co's deemed interest in 8,883,173 units is pursuant to the prime brokerage agreement”, said J.P. Morgan briefly in a disclosure filing lodged with the Singapore Exchange on 16 September.

With the reduction, J.P. Morgan’s deemed interest in the trust is now at 59,918,800 units representing a stake of 6.48%, down from 68,801,973 units or a stake of 7.44% previously.

Units of Ascendas India Trust are currently listed on the Singapore Exchange at SGD0.825.