MapletreeLog plans to raise up to S$349m to fund acquisitions

Mapletree Logistics is planning to raise up to S$349 million.

It plans to issue new units through a private placement and an ATM offer to Singapore retail investors.

Mapletree plans to use the money to pay for 15 warehouses and distribution centres, to bring its portfolio to 56.

Eight of the properties are in Singapore, five in Malaysia and one each in China and Japan.

Mapletree also intends to partly refinance the acquisition of two previously acquired properties in Singapore and three in Malaysia.

The 20 properties are worth in excess of S$456 million.

MapletreeLog has called for an extraordinary general meeting on Jan 17 for shareholders to vote on the proposed equity fund raising exercise.

Source: Channel NewsAsia, 26 December 2006 

Join The Discussion

Compare listings