Ascott Residence Trust (ART) has priced its placement units at the lower-mid point of an indicative range and has stopped short of exercising the option to upsize in full.
ART announced on 15 August that it is acquiring nine serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited.
To partially fund the acquisition, the trust launched a private placement exercise, which would have raised SGD150 million
Related: Ascott Residence Trust launches SGD150 million placement for nine-asset acquisition
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