Ascendas Real Estate Investment Trust issued 8,811,551 new units at an exchange price of S$2.0144 apiece, pursuant to the S$300.0 million worth of 1.60% exchangeable collateralized securities due 2019 issued by Ruby Assets Pte. Ltd. earlier in the month.

The securities are exchangeable into new units in the REIT. As of Dec. 29, the issuance had an outstanding aggregate principal amount of approximately S$62.3 million.

After the latest issue of 8,811,551 new units, the REIT currently has issued a total of 2,851,335,332 units, in accordance with the issuance of exchangeable collateralized securities. The new issued units will be listed and quoted on Singapore Exchange Securities Trading Ltd.'s main board on Jan. 3, 2017, at 9 a.m. local time.

As of Dec. 29, US$1 was equivalent to S$1.45.