OCBC Investment Research has lowered its fair value estimate on Singapore-listed industrial REIT, Mapletree Industrial Trust (MIT).

This estimate has been lowered ahead of a private placement exercise, which will see the REIT raise some SGD201 million (USD148 million) in new funds.

MIT has received in-principle approval from the Singapore Exchange (SGX) to proceed with the exercise.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.