Corporate digest

Mapletree Industrial Trust

MAPLETREE Industrial Trust is proposing a private placement of 90.44 million new units to raise gross proceeds of no less than about S$175 million, of which S$172.1 will be used to partly refinance the acquisition of 18 Tai Seng Street, with the rest used for placement fees and expenses.

The new units will be placed to eligible institutional, accredited and other investors at an issue price of between S$1.935 and S$1.990 per new unit. This represents a discount of between 4.65 per cent and 1.94 per cent to the volume-weighted average price of S$2.0293 per unit of all trades on Feb 11. The new units are expected to be issued on Feb 20.