CapitaLand Ascott Trust said on Oct, 07 2026 that it has deployed 241.9 million Singapore dollars of the 303.1 million Singapore dollars raised in its Aug, 03 2023 equity fund-raising exercise.

The managers reported that 170.2 million Singapore dollars have been fully applied to partially fund previously announced acquisitions. A further 24.4 million Singapore dollars went toward debt repayment, while 19.9 million Singapore dollars financed renovation work at Citadines Holborn-Covent Garden London.

Of the 82.8 million Singapore dollars originally earmarked for the extension and renovation of Novotel Sydney Central, only 4.4 million Singapore dollars has been spent to date. About 78.4 million Singapore dollars of that amount was reallocated to cover renovation and rebranding expenses at The Cavendish London, of which 18.1 million Singapore dollars has now been utilised, including 4.8 million Singapore dollars disbursed on Oct, 07 2026.

Professional and other expenses related to the 2023 capital raising absorbed 4.9 million Singapore dollars, lower than the initially budgeted 5.8 million Singapore dollars.

CapitaLand Ascott Trust said approximately 61.2 million Singapore dollars of the fundraising proceeds remain unutilised and that it will provide further updates when these funds are materially deployed.