New units from MCT's preferential offering to start trading on Friday

SOME 205.6 million new units in Mapletree Commercial Trust (MCT) will be listed on the Singapore bourse at 9am on Friday, as a result of the trust's preferential offering.

These new units will rank pari passu in all respects with the existing units in issue on Nov 14, the manager said.

Earlier this week, MCT announced that it has raised S$460.5 million in gross proceeds from its preferential offering, which was 1.45 times subscribed.

The new units will be issued on the basis of 71 new units for every 1,000 existing units in MCT, at S$2.24 apiece.

Together with the gross proceeds of S$458 million raised from the private placement, MCT has raised gross proceeds of S$918.5 million from the equity fundraising exercise.

MCT units closed at S$2.28 on Thursday, up 1.3 per cent or three Singapore cents.