CapitaLand Ascendas REIT (A17U) has launched an equity fund-raising plan to secure no less than about 900 million Singapore dollars through a two-part offering announced on Mar, 24 2026.
The initiative comprises:
• A private placement of 244.9 million to 249.4 million new units at 2.406–2.450 Singapore dollars each, aiming to raise at least 600 million Singapore dollars. The pricing represents a 2.5%–4.2% discount to the Mar, 23 2026 volume-weighted average price of 2.5126 Singapore dollars per unit.
• A non-renounceable preferential offering of new units to existing investors at 2.35–2.40 Singapore dollars per unit to collect about 300 million Singapore dollars, implying a 4.5%–6.5% discount to the same VWAP. The allotment ratio will be announced after pricing.
Gross proceeds will be allocated mainly to fund completed and pending acquisitions, including: – Singapore logistics and industrial portfolio (about 113.6 million Singapore dollars) – DHL Canal Winchester logistics asset in the United States (about 57.9 million Singapore dollars) – Six logistics properties in Spain (about 108.6 million Singapore dollars) – A logistics estate at 25 Loyang Crescent, Singapore (about 214.8 million Singapore dollars) – A 50% stake in Ascent, Singapore Science Park 1 (about 93.5 million Singapore dollars) – A 49% interest in a data centre in Greater Osaka, Japan (about 188.3 million Singapore dollars) – Two potential Singapore acquisitions and related costs (about 112.6 million Singapore dollars) – Fees and expenses (about 10.7 million Singapore dollars)
The manager forecasts that the completed and pending deals will lift pro forma distribution per unit by roughly 4.1% and reduce aggregate leverage from 39.0% to 34.5%, assuming proceeds are first used to repay debt.
Joint global co-ordinators, bookrunners and underwriters are DBS Bank, J.P. Morgan Securities Asia, Oversea-Chinese Banking Corporation and United Overseas Bank, with Mizuho Securities (Singapore) acting as joint bookrunner and underwriter.
New units issued will not be entitled to the advanced distribution for income accrued up to Apr, 1 2026 but will rank equally for subsequent distributions. Listing of the private placement units is expected on Apr, 2 2026, while preferential offering units are slated to start trading on Apr, 23 2026.