Singapore Exchange (SGX) today welcomed the listing of Ascendas Hospitality Trust on Mainboard under the stock code “Q1P”.
Ascendas Hospitality Trust is a stapled group comprising Ascendas Hospitality Real Estate Investment Trust and Ascendas Hospitality Business Trust. This is the third trust sponsored by Ascendas Group and listed on SGX. The two other securities sponsored by Ascendas Group are Ascendas REIT and Ascendas India Trust. With hotel assets spanning Asia and Australia, Ascendas Hospitality Trust is also the third hospitality trust listed on SGX.
Mr Tan Juay Hiang, CEO of the Managers, said, “We are privileged to be the first hospitality trust to be listed in Singapore in 2012. Ascendas Hospitality Trust is a unique platform for investors to access the favourable fundamentals of the hospitality sector in Asia and Australia. The success of our IPO is an affirmation of investors’ confidence in Ascendas’ track record, and in Ascendas Hospitality Trust and its growth prospects.”
“This is the third listing on SGX of a trust sponsored by Ascendas Group. We are indeed very pleased that SGX has been chosen once again as the preferred listing platform for Ascendas Group to grow its assets. This enhances our strategic positioning as the Asian Gateway, and adds to the vibrancy of our Mainboard community,” said Mr Lawrence Wong, Head of Listings at SGX.
With a market capitalization of S$707 million, the listing of Ascendas Hospitality Trust on SGX brings the total number of listed companies from the REITs and Property Trust sector to 28.