Mapletree Industrial Trust's property at Changi Business Park, Singapore. (Photo: REITsWeek)Mapletree Industrial Trust's property at Changi Business Park, Singapore. (Photo: REITsWeek)

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.

Mapletree Industrial Trust's property at Changi Business Park, Singapore.
Mapletree Industrial Trust's property at Changi Business Park, Singapore.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.