Mapletree launches commercial Reit IPO

The deal comes after a two-week recovery in the Singapore stock market and aims to raise up to $732 million.

Mapletree launches commercial Reit IPO
Mapletree’s Bank of America Merrill Lynch HarbourFront office project in Singapore

After a two-and-a-half-week delay, Mapletree Commercial Trust yesterday kicked off the institutional bookbuilding for its Singapore initial public offering. According to the prospectus, the company is looking to raise up to S$923.7 million $732 million, which is slightly below the S$1.1 billion that was talked about in early March.

The company did a couple of weeks of pre-marketing and was expected to start the formal roadshow on March 21. However, in the wake of...

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