Ascott Residence Trust's Citadines City Centre Frankfurt. (Photo: Ascott Residence Trust)

Units of CapitaLand Ascott Trust finished the trading day on 29 August about 2.5% lower from its previous close, in the wake of tepid response for its preferential offering exercise.

CapitaLand Ascott Trust is a Singapore Exchange (SGX)-listed landlord of hospitality and student accommodation assets.

The trust recently conducted an equity fundraising exercise to partially fund the acquisition of three lodging assets in the UK, Ireland and Indonesia.

Related: CapitaLand Ascott Trust to raise SGD300 million for three-asset acquisition

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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.