The initial public offering of Singapore's largest REIT to date, Mapletree Greater China Commercial Trust (MGCCT)(SGX:RW0U) is approximately 38.1 times subscribed at the close of the public offer.
As at 12.00 noon on 5 March 2013, there were 50,859 valid applications for the 215,053,000 units available to the public for subscription. In total, these applicants applied for 1,914,020,000 Units. Based on the number of applications received, the public tranche was approximately 8.9 times subscribed.
The units are expected to commence trading at 2.00 p.m. on 7 March 2013, subject to the SGX being satisfied that all conditions necessary for the commencement of trading have been fulfilled.
|Mapletree Greater China Commercial Trust's reserve units of 50.3 million shares were also over-subscribed.|
MGCCT is the first cross border REIT to be listed in Singapore that aims to invest in best-in-class properties across Greater China.