, Singapore
415 views
Photo from Mapletree Logistics Trust

Mapletree Logistics Trust prices new units under private placement at  $1.649

It will issue a total of 121,285,000 new units.

Mapletree Logistics Trust (MLT) will issue 121,285,000  new units under its private placement at $1.649.

In a bourse filing, MLT said the issue price represents a discount of 1.5% to the adjusted volume weighted average price (AVWP) of $1.6739 per unit and 2.9% to the VWAP of $1.6989 per unit of all trades in the units done on the SGX-ST for the preceding market day on 29 March up to the time the Placement Agreement was signed on 30 March.

MLT expects to raise $200.0m from its private placement.

The company will set aside $145.5m or 73%  of the total gross process to repay existing debts, whilst it will allocate $50.0m or 25% to partially fund the proposed acquisitions of six logistics assets located in Japan, one logistics asset located in Sydney, Australia and one logistics asset located in Icheon-si, Gyeonggi-do, South Korea.

The company will use the remaining $4.5m (2%)  to pay the estimated professional and other fees and expenses incurred or to be incurred by MLT in connection with the acquisitions and the private placement.

Trading of the new units on the Singapore Exchange Securities Trading Limited (SGX-ST) will commence on 11 April at 9 am.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!