Mapletree Logistics Trust's Natural Cool Lifestyle Hub. (Photo: REITsWeek)

Mapletree Logistics Trust announced on 6 October that it has received applications for a total of 356,918,571 new units in its preferential offering exercise.

The industrial REIT first announced in September 2017 that it was raising gross proceeds of approximately SGD640 million via a private placement of 300,881,000 units, and a one-for-ten preferential offering exercise.

Applications received under the latter exercise represents approximately 142.7% of the total number of new units available, which have been priced at SGD1.145 each, said the REIT.

The REIT’s sponsor, Mapletree Investments Pte Ltd, and its subsidiaries, have accepted in full their respective provisional allotments of an aggregate of 98,735,756 new units under the preferential offering exercise.

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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.