MIT announces issue price of S$1.9434 per unit for new units under distribution reinvestment plan

MAPLETREE Industrial Trust's (MIT) manager announced on Tuesday that the issue price of new units under its distribution reinvestment plan is S$1.9434 per unit.

It had earlier made an application of a distribution reinvestment plan for the advanced distribution of 1.71 Singapore cents per unit in the trust, for the period from Jan 1 to Feb 19, 2019.

The issue price represents approximately a 2 per cent discount to the adjusted volume-weighted average traded price per unit for all trades on the Singapore Exchange (SGX) for each of the market days prior to and ending on Feb 19, which is the book closure date.

The notice of election is expected to be dispatched to all eligible unitholders on Feb 27.

Separately, MIT announced that the private placement of 103.4 million new units on the SGX's Mainboard will be issued on Feb 20 at the issue price of S$1.945 per unit. The holders of the new units under the private placement will not be entitled to the advanced distribution.