AHT

AHT - The group's recent preferential offering which was issued at $0.88/share started trading today. In light of the weak recent share price, majority of the REIT's minority shareholders had reframed from undertaking the preferntial offering, as they could purchase the shares in the open market at a lower price. This has resulted in AscendasLand International Pte Ltd accepting in full its provisional allotments of 18.5m New Stapled Securities under the Preferential Offering and applied for 35.6m excess New Stapled Securities pursuant to its irrevocable undertaking. The failed attempt to meaniningfully engage the majority of the grp's shareholders could have weighed negatively on the REIT's sentiment.