This translates to 91.9 cents per share, which is at a discount of 21.5% to the REIT’s closing price of $1.17 as at Mar 6, and a discount of 17.5% to the theoretical ex rights price.
SINGAPORE (March 8): UOB Kay Hian has downgraded its call on Ascott Residence Trust (Ascott REIT) to “hold” from “buy” previously, following Tuesday’s announcement of its $442.7 million rights issue to acquire Ascott Orchard Singapore, Citadines City Centre Frankfurt and Citadines Michel Hamburg.
(See also: Ascott REIT launches 91.9 cents/share rights to fund Singapore and Germany acquisitions)
