180 Peachtree, Atlanta, a property of Mapletree Industrial Trust. (Photo: Mapletree Industrial Trust)

The private placement launched by Mapletree Industrial Trust (MIT) has been over-subscribed.

With that, the placement has been priced at the top-end of its indicative range at SGD2.80.

An upsize option in the placement has also been exercised in full.

As such, a total of 146,414,000 new units in the REIT, including the 18,302,000 additional units under the upsize option, will be issued.

The aggregate gross proceeds of the private placement will be approximately SGD410.0 million (USD295 million).

REITsWeek has estimated the TERP of the placement in this article published 23 June.

Related: Mapletree Industrial Trust launches SGD350 million placement for remaining stake in US data centres

MIT was last done on the Singapore Exchange (SGX) at SGD2.97, up 4.5% from its previous close.

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.