Mapletree Greater China Commercial Trust's Gateway Plaza (Photo: Mapletree Greater China Commercial Trust)Mapletree North Asia Commercial Trust's Gateway Plaza (Photo: Mapletree North Asia Commercial Trust)

China-focused retail and office real estate investment trust Mapletree Greater China Commercial Trust (MGCCT) (SGX:RW0U) announced on 24 February that it has issued a total of 7,673,031 new units in the REIT at SGD0.9442 per unit.

Of the new units issued, 4,775,776 were disbursed to MGCCT’s manager as base fees while 2,897,255 units were issued to Mapletree Greater China Property Management Limited as property management fees. The issue price of the new units is based on the 10-day volume weighted average price up to 31 December 2014.

With the issue, the total number of MGCCT units in issue as at 24 February 2015 stands at 2,721,032,794. Units of MGCCT are currently listed on the Singapore Exchange at SGD1.02.

Mapletree Greater China Commercial Trust Gateway Plaza
Mapletree Greater China Commercial Trust Gateway Plaza is expected to benefit from the tight supply of office space in Beijing for the coming quarters.

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.