Mapletree Commercial Trust property, ARC, in Singapore (Photo: REITsWeek)Mapletree Commercial Trust property, ARC, in Singapore (Photo: REITsWeek)

Singapore-listed retail and office REIT, Mapletree Commercial Trust, announced on 2 June that it will be issuing 2,515,137 new units in the REIT at an issue price of SGD1.4498 a piece.

The units are being issued in pursuant to the REIT’s distribution reinvestment plan (DRP) for 4Q 2015/2016.

The new units will be credited by 3 June 2016 to securities accounts of eligible unitholders who have elected to participate in the DRP, and will commence trading on the Singapore Exchange at 9:00 a.m. on the same day.

Following the issue, the total number of Mapletree Commercial Trust units in circulation will increase from 2,131,735,739 to 2,134,250,876.

Unitholders who do not qualify, did not elect, or only partially elected to participate in the DRP will receive their respective distribution for 4Q FY15/16 in cash on the same day.

“As stated in the announcement dated 26 April 2016, the manager will discontinue the application of the DRP after the 4Q FY15/16 distribution”, said the REIT in its statement.

Units of Mapletree Commercial Trust slipped by 0.7% from its previous close on the Singapore Exchange to finish at SGD1.42.

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.