Ascendas REIT's property at 9 Changi South Street 3, Singapore. (Photo: REITsWeek)

The result of Ascendas REIT’s private placement has raised some eyebrows, after the REIT announced on 7 September that it will issue new units at SGD2.54 each.

This result has been interpreted as a sign that weak sentiments are still prevailing over the industrial REITs sector.

Ascendas REIT first announced on 6 September that it was executing as a private placement of 178,007,000 new units to raise gross proceeds of at least SGD450.0 million (USD328 million).

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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.