Mapletree Commercial Trust raises $184 million for acquisition

The well-flagged deal triggers a slight gain in the unit price in the aftermarket. Meanwhile, the chairman of Haitian sells $100 million worth of shares in the maker of plastic moulding machines.
<div style="text-align: left;">
Bank of America Merrill Lynch Harbourfront, owned by MCT
</div>
<div style="text-align: left;"> Bank of America Merrill Lynch Harbourfront, owned by MCT </div>

Mapletree Commercial Trust MCT, a Singapore-listed real estate investment trust Reit focusing on a combination of retail and office properties, has raised S$225 million $184 million from a follow-on share issue to fund its earlier announced acquisition of a 19-storey office building named Mapletree Anson.

This is MCT’s first acquisition since it went public in April 2011 and will bring the total number of assets in its portfolio to four. The placement was completed after the market closed yesterday one day after shareholders approved the Mapletree Anson acquisition and on the same day as the trust announced its third quarter results for the fiscal year to March 2013....

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222