To acquire Park Hotel Clark Quay.
In a release, Ascendas Hospitality Fund Management Pte. Ltd.,announced that the REIT Manager and the Trustee Manager are proposing to carry out an equity fund raising comprising an offering of 226,352,625 new stapled securities in Ascendas Hospitality Trust to raise no less than S$200.0 millio by way of:
(i) a private placement of 161,947,000 New Stapled Securities at an issue price of between S$0.885 and S$0.915 per New Stapled Security to raise gross proceeds of no less than S$143.3 million; and
(ii) a pro-rata and non-renounceable preferential offering of 64,405,625 New Stapled Securities on the basis of 2 New Stapled Securities for every 25 existing stapled securities in A-HTRUST held as at 5.00 p.m. on 7June 2013 to Entitled Stapled Securityholders at an issue price of between S$0.880 and S$0.905 per New Stapled Security (fractions of a New Stapled Security to be disregarded) to raise gross proceeds of no less than S$56.7 million (the “Preferential Offering”),
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