CapitaLand Ascendas Buys Seagate's R&D Facility, Makes $S450M Equity Raise

News about CapitaLand Ascendas REIT

CapitaLand Ascandas REIT (CLAR) is annoucing the purchase of The Shugart from Seagate Singapore (a R&D facility) for S$218.2 million. The trust is also embarking on a large private placement of at least S$450 million:

The acquisition of The Shugart from Seagate Singapore is expected to be distribution per unit (DPU) accretive to unitholders, said its manager on Tuesday (May 16).

Assuming the acquisition was completed on Jan 1, 2022, DPU would increase by 0.7 per cent or 0.11 Singapore cent.

CapitaLand Ascendas REIT
Price2.760 SGD
NAV2.190 SGD
Yield (4 quarters)5.49%
Gearing37.9%