SINGAPORE (Feb 5): The trustee-manager of Ascendas India Trust (a-iTrust) is selling new shares to private investors to raise gross proceeds of at least $75 million.

Ascendas Property Fund Trustee is selling at least 73 million new units in a-iTrust at an issue price of between $1.027 and $1.083 per unit.

The issue price range represents a discount of between 4.0% and 9.0% to the volume weighted average price (VWAP) of $1.1285 per unit for all trades done on Monday when the agreement was signed.

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