Ascott REIT surges 3.6% on news of divestment, rating upgrades

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Unit price of Ascott REIT, which traded largely range bound within SGD1.09 and SGD1.10 since the start of 2019, has surged by as much as 3.7% on news of a significant divestment.

The REIT announced on 9 January that it has reached an agreement to divest the serviced residences property, Ascott Raffles Place, for SGD353.3 million (USD260 million).

Read: Ascott REIT to dispose serviced residences in Singapore CBD for USD260 million

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