INVESTORS may soon be able to own a piece of VivoCity - Singapore's largest mall - by the mid of next year, according to Mapletree Investments chief financial officer Wong Mun Hoong. Mr Wong said the firm is planning to list a commercial real estate investment trust (Reit) - Mapletree Commercial Trust - that will raise at least $500 million. It will hold about $3 billion to $4 billion of commercial...
Singapore REITS
Sabana Reit is planning to raise about $600 million in an initial public offering on the Singapore Exchange in the first syariah-compliant listing here, a person familiar with the situation said yesterday. The company - poised to become the largest syariah-compliant real estate investment trust in the world - is planning to launch the offering by the end of the year, the source told Dow Jones...
Temasek-linked Mapletree Industrial Trust has launched Singapore's second biggest IPO this year and will raise as much as 1.2 billion Singapore dollars if the over allotment of 91.7 million shares is exercised. This was just a day after GIC's Global Logistic Properties launched the biggest share offering in Singapore since 1993. Mapletree has priced its IPO at 93 cents, the top end of its indicated...
Property developer Keppel Land plans to sell one-third stake of its Phase One of Marina Bay Financial Centre (MBFC) to K-REIT Asia for about S$1.4 billion. This is part of an asset swap agreement with K-REIT, a real estate investment trust. Under the deal, K-REIT will in turn sell Keppel Towers and GE Tower (KTGE) to Keppel Land for S$573 million. The one-third stake of Marina Bay Financial Centre Phase...
Mapletree Industrial Trust has planned to raise as much as S$1.2 billion in gross proceeds from a sale of its units. It's launching the initial public offering (IPO) to retail, institutional and cornerstone investors Mapletree Industrial Trust said it was offering 594.9 million units in its IPO. In a prospectus filed with the Monetary Authority of Singapore, the trust said the unit would be priced...
The Government of Singapore Investment Corporation (GIC) has said its logistics arm could seek to raise as much as S$3.9 billion in its initial public offering. This would make it the country's second-biggest IPO. Global Logistic Properties has set an indicative price range of S$1.78 to S$1.96 per share. According to its prospectus, the IPO will comprise up to nearly two billion shares, including for...
Mapletree Logistics Trust has said it is raising S$300 million in capital through the issue of new shares to fuel its growth plans. The fund raising will comprise a combination of private placement and preferential offering of more than 370 million new units. The Trust said it hopes to raise around S$170 million from the private placement of new units offered at a price range of between 82 and 84 cents...
Mapletree Industrial Trust plans to raise about $800 million from an initial public offering in Singapore to buy six properties and repay debt, according to a term sheet sent to investors. The trust is offering 1.01 billion units, or up to 69 per cent of its market capitalisation, in the IPO, which includes a greenshoe - or overallotment option - of 91.75 million units. Trading will start on Oct 21,...
The Government of Singapore Investment Corporation (GIC) may sell just a minority stake in the listing of Global Logistic Properties (GLP) that is expected to raise a record US$3 billion ($4.01 billion). According to a Reuters report yesterday that cited unnamed sources, GIC may offer shares of its logistics unit at 1.3 to 1.4 times book value in its initial public offering. GLP develops and manages...
Ascott Residence Trust said its unitholders approved its plans to expand its portfolio in Asia and Europe, as it allayed fears of minority shareholders over dilution and a drop in distribution per unit (DPU) from the issuance of new units. In an extra-ordinary general meeting yesterday, unitholders gave the go ahead for Ascott Reit's plans to acquire two properties in Singapore and Vietnam, as well as 26...