MIT, Keppel DC Reit to issue shares to fund their respective data centre buys

Singapore

MAPLETREE Industrial Trust (MIT) is looking to raise at least S$350 million through a private placement to partially fund its joint purchase of a North American data centre portfolio worth US$1.37 billion, of which its share of the bill is about S$965 million.

It is issuing 158.3 million new units at an issue price of S$2.211 to S$2.265 per unit, with an upsize option to issue up to 22.6 million new units that would raise at least another S$50 million.