Mapletree Commercial Trust prices just above the mid-point

The Singapore Reit is able to raise $718 million after the institutional tranche is more than five times covered.

Mapletree Commercial Trust prices just above the mid-point
The PSA Building is one of three assets in Mapletree Commercial Trust's portfolio.

Mapletree Commercial Trust has priced its Singapore initial public offering just above the mid-point of the indicated range, at S$0.88 per unit, which allowed it to raise S$893.2 million $718 million. Many of the investors were price sensitive, but after the bookbuilding picked up momentum in the final two days, the bookrunners were able to push the price up a couple of notches.

The demand was Asia-heavy and, perhaps not too surprising for a...

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