Mapletree Greater China Reit sets aside 55% of IPO for cornerstones

The commercial property trust is seeking to raise $1.3 billion pre-shoe from Singapore’s largest Reit IPO ever.

Mapletree Greater China Commercial Trust MGCCT has attracted 11 cornerstone investors to support its initial public offering, which is seeking to raise between S$1.52 billion and S$1.61 billion $1.2 billion to $1.3 billion.

The cornerstones, which include real estate specialists, insurance companies, sovereign money and other long-term investors, will buy 55.1% of the total offering, implying a combined investment of about $678 million at the bottom of the price range. The largest among them...

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