Mapletree-Logistic-Trust

Mapletree Logistics Trust Private Placement issued at S$2.027 per New Unit, oversubscribed by 5.5 times

Editorial Team
Editorial Team

The issue price for Mapletree Logistics Trust’s (SGX:M44U) (MLT) Private Placement which was announced earlier on Tuesday 20 October has been fixed at S$2.027 per New Unit.

The Private Placement was fully subscribed with the additional upsized option exercised in full, announced the Manager of MLT on 21 October before the start of trading.

The issue price represents a discount of approximately 1.2% of the Adjusted Volume Weighted Average Price of S$2.0513 per unit. A total of 246.7 million New Units will be issued under the Private Placement.

Preferential Offering:

MLT also announced the Issue Price for the Preferential Offering which has been fixed at S$1.990 per New Unit, representing a discount of 3.0% to the Adjusted Volume Weighted Average Price of S$2.0513 per unit.

Existing Unitholders will be able to purchase 19 New Units for every 1000 existing units held as at 5pm on 28 October 2020.

A total of 72.4 million New Units will be issued under the Preferential Offering.

Total gross proceeds of S$644.1 million will be raised in this equity fund raising exercise, of which S$626.6 million (97.3%) will be used to fund acquisitions, and S$17.5 million (2.7%) will be used to pay fees and expenses incurred through the exercise.

As at time of writing, MLT was up 1.44% and was trading at S$2.110 on 21 October, the day after it announced the equity fund raising exercise.