More Reits likely to tap equities as unit prices go up
MORE equity fund-raisings could be in the offing for real estate investment trusts (Reits), given their 9 per cent unit price run-up from late June till now.
Already, since July, three Reits have raised equity, with Mapletree Commercial Trust (MCT) pulling off the largest equity issuance year-to-date of over S$1 billion - making up two-thirds of the approximately S$1.5 billion Reits have raised so far this year.
Of course, whether Reits will continue to tap capital market for funds will depend on whether there are even acquisitions opportunities to finance - and on this point, analysts have been guessing at some potential deals in the pipeline.
In the largest fund-raising this year, MCT raised S$1.04 billion through a private placement and preferential offering to pay for its purchase of the office and business park at Mapletree Business Cit…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Battery firm LG Energy Solution Q1 profit plunges on weak EV sales
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cordlife customers push for legal action
SK Hynix expects full chip recovery after Q1 earnings surprise on AI boom
Singapore shares retreat at Thursday’s open; STI down 1.1%
Malaysia weighs casino licence to revive Forest City