MLT placement oversubscribed; preferential offering's issue price set at S$1.99

Singapore

BOTH components of Mapletree Logistics Trust's equity fund-raising to finance its Asia acquisition spree have been priced at the top ends of their indicative ranges.

MLT's manager on Wednesday said the private placement was about 5.5 times covered, with the issue price fixed at S$2.027 per new unit.

The upsize option was exercised in full. The placement drew strong participation from new and existing institutional, accredited and other investors, said the manager.

The issue price represents a discount of about 2.5 per cent to the volume-weighted average price (VWAP) of S$2.0781 per unit for all trades in MLT units done on Monday, up to the time the underwrit…

A NEWSLETTER FOR YOU

Tuesday, 12 pm

Property Insights

Get an exclusive analysis of real estate and property news in Singapore and beyond.

Sign Up