London-based wealth manager Newton Investment Management Limited has disposed 3.772 million units of Industrial REIT Mapletree Logistics Trust (MLT) (SGX:M44U). The unit were disposed in a market transaction last 4 October and effectively eliminates the firm from being listed as a substantial unit holder in the REIT. Newton Investment Management is a subsidiary of The Bank of New York Mellon Corporation.
|Mapletree Logistics Trust expanded its reach into China, Malaysia and South Korea with the acquisitions of 6 industrial properties during the year.
MLT has recently positioned itself for growth in Singapore and the region with acquisitions in China, Malaysia and South Korea. It currently holds a portfolio of 111 industrial properties in the region including Vietnam, Japan and Hong Kong.
Newton Investments disposed its units at a price of S$1.05 each. With the transaction, Newton Investment’s stake in the REIT slipped from 5.02 per cent to 4.87 per cent. However the firm continues to hold 118.7 million units in the REIT.
Units of MLT are currently trading at S$1.07 on the Singapore Exchange.