One of 26 Australian properties being acquired by Ascendas REITOne of 26 Australian properties being acquired by Ascendas REIT

Singapore-listed industrial REIT, Ascendas REIT (SGX:A17U), announced on 17 December that it has issued 2,682,396 new units to its manager Ascendas Funds Management Limited.

The units were issued as payment of the acquisition fee in the purchase of 16 logistics properties located in Australia in November 2015 at a price of SGD2.2841 per unit.

“Ascendas Funds Management Limited has undertaken not to dispose the acquisition fee units within one year from the date of issuance”, said Ascendas REIT in its announcement.

With the issue, the total number of Ascendas REIT units in circulation is 2,414,090,745. Ascendas Funds Management Limited unitholding is 54,841,711 or approximately 2.27% of the total units in issue.

Units as Ascendas REIT last changed hands on the Singapore Exchange at SGD2.25.

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.