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CapitaLand Ascott Trust Updates on 2023 Equity Fund Use

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CapitaLand Ascott Trust Updates on 2023 Equity Fund Use

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Ascott Residence ( (SG:HMN) ) has provided an update.

CapitaLand Ascott Trust announced an update on the use of proceeds from its 2023 Equity Fund Raising, which involved a private placement and preferential offering. This move is likely aimed at optimizing their capital structure and expanding their portfolio, potentially strengthening their market position in the real estate investment sector.

More about Ascott Residence

CapitaLand Ascott Trust is a stapled group consisting of CapitaLand Ascott Real Estate Investment Trust and CapitaLand Ascott Business Trust, both managed by CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte. Ltd., respectively. The group operates in the real estate investment sector, primarily focusing on investments in hospitality assets across various regions.

YTD Price Performance: 0.15%

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $2.48B

Learn more about HMN stock on TipRanks’ Stock Analysis page.

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