Mapletree unit launches combo equity deal

Mapletree Commercial Trust raises S$529 million from a private placement of new units and is seeking another S$504 million from a preferential offering next month.

Singapore-listed Mapletree Commercial Trust is planning to raise S$1 billion $751 million from a pair of equity offerings, taking advantage of investors' desire for a safe yield play.

The trust turned to a mix of new and old investors for its latest capital-raising, closing a private placement of 364.8 million new investment units and launching a non-renounceable preferential offering of 362.8 million investment units to existing unitholders.

The rights portion of the deal is still being considered by investors, but the private placement got a strong response, generating orders worth more than 3.8 times the value of the deal. That should come as little surprise...

¬ 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 subscription (2-5 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 subscription (2-5 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