Mapletree's second Reit IPO captures hunger for yield

Temasek-backed Mapletree Industrial Trust raises $679 million from institutional investors, including six cornerstones.

Mapletree Industrial Trust MIT will become only the second real estate investment trust Reit to list in Singapore in almost three years after an initial public offering that attracted a huge following from institutional investors. This enabled the issuer to fix the price at the top end of the range for a total deal size of S$887.6 million $679 million.

It will also be the second Reit from the Mapletree group, a Singapore-based real estate investment and management company, following Mapletree Logistics Trust, which listed in July 2005. MIT invests in income-yielding industrial real estate, including business park buildings, flatted factories, stack-up and ramp-up buildings, and hi-tech industrial buildings, but not in properties that...

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