MLT to raise S$650m to partially fund Asia property acquisitions

Move will allow it to strengthen its connectivity across key logistics nodes and improve its supply chain resiliency

Vivienne Tay

Published Tue, Oct 20, 2020 · 09:50 PM

Singapore

MAPLETREE Logistics Trust (MLT) wants to raise up to S$650 million from unitholders via a private placement and preferential offering, to partially fund a S$1.09 billion acquisition of properties across China, Malaysia and Vietnam.

Analysts say the move will allow MLT to strengthen its connectivity across key logistics nodes and improve its supply chain resiliency. This is on top of the 1.3 per cent distribution per unit accretion and 6.6 per cent net asset value boost.

MLT is looking to acquire nine logistics properties in China, Malaysia and Vietnam, and also the remaining 50 per cent interest in 15 properties in China, its manager had said on Monday. The properties to be acquired will be purchased from subsidiaries of sponsor Mapletree Investments and subsidiaries of I…