Mapletree logistics REIT’s preferential offering oversubscribed

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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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About Author

Ridzwan Rahmat has been analysing Singapore-listed REITs and business trusts, since 2008. For disclosure purposes, Ridzwan is currently vested in Mapletree Greater China Commercial Trust, Mapletree Industrial REIT and Mapletree Logistics Trust.

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