Ascendas to Raise $325M

Ascendas India Trust, owned by a Singaporean office and industrial parks manager, plans to raise up to US$325 million in a Singapore listing in July. Ascendas India, which last week launched a US$325 million property fund focused on Indian office projects will sell 425.3 million shares with an overallotment option of 10%. The funds investors include Bahrain-based asset manager Arcapita, and the Dutch bank ING's Private Banking arm.