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154.6m new Mapletree Logistics Trust units to start trading on Nov 1

ABOUT 154.6 million new units in Mapletree Logistics Trust (MLT) will begin trading on the Singapore bourse at 9am on Friday.

The new units will be issued at an issue price of S$1.617 apiece, under the real estate investment trust’s (Reit) oversubscribed private placement to be used to fund its proposed acquisitions of seven logistics properties in Malaysia, Vietnam and China.

With the issuance, the total number of MLT units in issue will increase to 3.8 billion.

Holders of the private placement’s new units will not be entitled to the actual cumulative distribution of 2.705 Singapore cents per unit paid for the period from July 1 to Oct 31.

MLT units closed at S$1.68 on Thursday, down one cent or 0.6 per cent.

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