Ascendas REIT issues 90m new units for $200m

Its private placement now has 2.5b units.

Ascendas REIT (AREIT) issued 90m new units at an issue price of $2.223 for every new unit, according to a news release by the company. Overall, AREIT stands to earn around $200m from the new units.

In total, the number of units in issue for private placement now stands at 2,504,090,745 units.

The company further asserted that the 2.5b units includes 2,682,396 units issued on 17 December this year as payment of the acquisition fee by AREIT of 16 logistics properties located in Australia.

According to the news release, the new units rank pari passu with units in issue on 17 December 2015, including the right to AREIT’s distributable income from the day of issuance of the new units under the private placement, as well as all distributions after.

The new units will start trading on SGX-ST at 9 am on 18 December 2015.