Mapletree Commercial Trust's preferential offering 1.45 times subscribed

MAPLETREE Commercial Trust (MCT) has raised S$460.5 million in gross proceeds from its preferential offering, which was 1.45 times subscribed, it said on Monday night.

Some 205.6 million new units will be issued on the basis of 71 new units for every 1,000 existing units in MCT. The issue price for the new units is S$2.24 apiece. They will begin trading on the main board of the Singapore Exchange with effect from 9.00 a.m. on Nov 15.

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 fund raising exercise.