Mapletree Commercial Trust (MCT) has launched its initial public offering of more than 712 million new shares on the Singapore Exchange. The IPO is priced at 88 Singapore cents a share and the firm is expected to raise S$893 million in net proceeds. The trust could potentially raise up to S$983 million if the Over-Allotment Option is exercised in full. The proceeds will be used to pay for the...
Singapore REITS
Mapletree Commercial Trust is set to raise at least $898 million in an initial public offering in Singapore after pricing the IPO slightly above the mid-point of an indicative price range, a source with direct knowledge of the deal said. The trust, managed by Singapore state investor Temasek’s property arm, priced the IPO at $0.88 a unit against an earlier indicative price range of $0.84-$0.91, the...
Shopping mall developer and operator CapitaMalls Asia has signed an agreement with Japan's PARCO to explore business collaborations in China and Japan. PARCO owns 20 malls in key Japanese cities including Tokyo, Osaka, Nagoya, Fukuoka and Sapporo. It also manages one property in Singapore's Marina Bay area. CapitaMalls Asia has been bringing Japanese retailers to its other markets outside Japan. It...
Mapletree Commercial Trust, which last month delayed its initial public offering (IPO), said it is now going ahead with the deal to raise as much as S$648.7 million. The trust on Wednesday lodged its prospectus with regulators, offering 712.9 million shares at S$0.84 to S$0.91 per unit. Mapletree Commercial Trust had earlier delayed its IPO due to market volatility caused by Japan's earthquake and...
Shares of mainboard-listed Global Logistic Properties (GLP) closed 3.1 per cent higher at S$1.98 yesterday as concerns eased about its operations in disaster-struck Japan. The rally, on a volume of about 31 million shares, brought it roughly back to the pre-earthquake levels. Shares in GLP, which counts Japan as its largest market, had fallen to as low as S$1.74 following the killer quake and tsunami on...
Mainboard-listed Ascendas Reit or A-Reit has acquired Neuros & Immunos, a science park property at Biopolis for S$125.6 million. A-REIT said the acquisition will strengthen its leadership position in the business & science park segment while providing a stable stream of income as the properties enjoy 100 per cent occupancy. Strategically located at Biopolis, the bio-medical research hub at...
Shopping mall developer and operator CapitaMalls Asia says it has submitted an application for a secondary listing on the mainboard of the Hong Kong Stock Exchange. CapitaMalls says the secondary listing will complement its China expansion strategy and enable the company to achieve its longer-term strategic objectives. China currently accounts for 37 percent of CapitaMalls Asia's total property portfolio...
Mapletree Logistics Trust (MapletreeLog) said that it has acquired a property in the Chugoku region in western Japan for S$114.2 million. It said in a statement that the Hiroshima Centre consists of two buildings - a two-storey warehouse for cold or frozen storage and a two-storey dry warehouse with an ancillary office. The combined total gross floor area of both buildings is about 43,600 square metres,...
Unit prices of Singapore Real-Estate Investment Trusts (REITs) are expected to increase as the retail sector gains traction from increased consumer spending and help boost rentals for shopping malls. Economic indicators, namely population growth, rising tourist arrivals and rising household income in Singapore have boosted retail sales as the Singapore economy expanded at 14.5 per cent last year. Retail...
K-REIT Asia has increased its stake in Prudential Tower to 93 per cent from 73 per cent. Its trustee RBC Dexia Trust Services entered into a sale and purchase agreement with various parties to acquire levels 26 to 29 of the 30-storey building. This was at a purchase price of about S$125.1 million inclusive of rental support. Excluding the rental support, the effective purchase consideration is about...