A subsidiary of Mapletree Investments, Mapletree Dextra, has increased its stake in Singapore-listed industrial REIT Mapletree Industrial Trust (MIT) (SGX:ME8U) by 10,286,940 units.
The increase in holdings came about as a result of Mapletree Dextra’s participation in MIT’s distribution reinvestment plan in respect to the REIT’s distribution for the three months ended 30 September 2014 (2QFY14/15).
The new units were issued at a price of SGD1.3876 each.
As a result of the transaction, Mapletree Dextra’s total holdings in MIT now stands at 559.29 million units representing a stake of 32.28%
Units of MIT are currently listed on the Singapore Exchange at SGD1.50.