Mapletree Logistics Trust preferential offering oversubscribed, raises S$144.1m
MAPLETREE Logistics Trust's preferential offering was oversubscribed, raising gross proceeds of S$144.1 million, the trust's manager said in a Singapore Exchange filing Thursday night.
The offering was part of an equity fund-raising exercise, alongside a private placement that raised about S$500 million. This brings total gross proceeds for the fund raising to S$644.1 million.
In the preferential offering, there were valid acceptances and excess applications for 129 million new units, 1.78 times the total units available.
The Trust's sponsor Mapletree Investments and its units have accepted, in full, their respective provisional allotments, totalling about 22.2 million new units. In addition, Mapletree Investments' unit Mulberry had been procured to apply for 25 million excess new units. As the offering was oversubscribed, Mulberry will not be allotted excess units.
About 72.4 million new units will be issued at S$1.99 per unit.
The new units are expected to be listed and quoted on the Mainboard of the SGX from 9am on Nov 18.
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Mapletree Logistics Trust units closed up S$0.04 or 2.06 per cent at S$1.98 on Thursday before the news.
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