More Reits likely to tap equities as unit prices go up
MORE equity fund-raisings could be in the offing for real estate investment trusts (Reits), given their 9 per cent unit price run-up from late June till now.
Already, since July, three Reits have raised equity, with Mapletree Commercial Trust (MCT) pulling off the largest equity issuance year-to-date of over S$1 billion - making up two-thirds of the approximately S$1.5 billion Reits have raised so far this year.
Of course, whether Reits will continue to tap capital market for funds will depend on whether there are even acquisitions opportunities to finance - and on this point, analysts have been guessing at some potential deals in the pipeline.
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