CapitaLand Ascott Trust receives 36.6% valid acceptances at close of preferrential offering

The REIT offered a total of 100,538,4097 new stapled securities.

CapitaLand Ascott Trust (CLAS) closed its preferential offering on 24 August with 36.6% valid acceptances or a total of 36,836,013 new stapled securities.

In a bourse filing, the REIT's manager said it also received 28.1% excess applications or a total of 28.242,063  new stapled securities under its preferential offering.

"In the allotment of Excess Preferential Offering New Stapled Securities, preference will be given to the rounding of odd lots," the REIT's manager said.

Meanwhile,  the REIT's sponsor, The Ascott Limited, alongside Somerset Capital,  Carmel Plus, CapitaLand Ascott Business Trust Management, and CapitaLand Ascott Business Trust Management have each accepted in full their respective provisional allotments of 29,622,829 Preferential Offering New Stapled Securities.

Post-completion of the preferential offering,  the abovementioned parties will collectively own 1,062,099,751 stapled securities, or 28.,25% of the total number of stapled securities in issue after the listing and quotation of the 100,538,407 Preferential Offering New Stapled Securities. 

CLAS issued 100,538,407 preferential offering new stapled securities for $1.025 each, to raise gross proceeds of $103.1m.