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CapitaLand Ascendas REIT ( (SG:A17U) ) has shared an announcement.
CapitaLand Ascendas REIT has announced the utilization of an additional S$1.2 million from its private placement proceeds, totaling approximately S$500 million, to partially finance the redevelopment of a logistics property in Singapore. This move is part of the company’s strategic efforts to enhance its property portfolio, which includes the acquisition of Seagate’s Singapore R&D facility and potential acquisition of key assets, thereby strengthening its market position in the logistics and industrial real estate sector.
More about CapitaLand Ascendas REIT
CapitaLand Ascendas REIT is a real estate investment trust based in Singapore, focusing on the acquisition, development, and management of industrial and logistics properties. The company is a prominent player in the real estate sector, particularly in the Asia-Pacific region, with a portfolio that includes business spaces, logistics, and industrial properties.
YTD Price Performance: 6.26%
Average Trading Volume: 28,883
Technical Sentiment Signal: Hold
Current Market Cap: $8.89B
Learn more about A17U stock on TipRanks’ Stock Analysis page.