Reuters: Financial Services and Real Estate: RPT-Ascendas REIT units fall after private placement

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

RPT-Ascendas REIT units fall after private placement May 4th 2012, 01:25 Thu May 3, 2012 9:25pm EDT SINGAPORE May 4 (Reuters) - Units of Singapore's Ascendas Real Estate Investment Trust fell as much as 4.6 percent on Friday after the company priced its private placement of 150 million new units at S$1.99 each, at the bottom of the S$1.99-S$2.04 range. Units of Ascendas REIT, which owns industrial properties, were down 4.3 percent at S$2.00 early on Friday. Ascendas REIT said it expects to raise gross proceeds of around S$298.5 million ($240.2 million), which will used for various purposes including construction costs in Singapore and the forward purchase of a business property in China. Citigroup and JPMorgan are joint lead managers and underwriters for the placement. ($1 = 1.2427 Singapore dollars) (Reporting by Eveline Danubrata; Editing by Matt Driskill)

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