RHB Notes ‘Healthy Demand’ For CLAR’S 4.1 Times-Subscribed $500 Mil Placement

Edge

Jun 03

CapitaLand Ascendas REIT’s (CLAR) latest proposed acquisitions are a positive move that will increase its exposure to a high-quality and in-demand data centre segment in Singapore, says RHB Bank Singapore analyst Vijay Natarajan.

CLAR announced on May 28 its plans to acquire data centres at 9 Tai Seng Drive and 5 Science Park Drive for $700.2 million.

Investors have also responded with “healthy demand” for the industrial S-REIT’s $500 million equity placement, says Natarajan, with the issue being 4.1 times subscribed.

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