Mapletree Commercial Trust (MACT.SI) opened at $0.89 on its Singapore debut on Wednesday, slightly above its offer price, as investors were drawn by its relatively attractive yield.
At 2:03 pm, Mapletree Commercial, managed by Singapore state investor Temasek’s (TEM.UL) property arm, was traded at $0.89 with a volume of 19.2 million units.
At 2:03 pm, Mapletree Commercial, managed by Singapore state investor Temasek’s (TEM.UL) property arm, was traded at $0.89 with a volume of 19.2 million units.
Mapletree Commercial sold each unit at $0.88, raising $898 millionin Singapore’s second-largest initial public offering so far this year after Hutchison Port Holdings Trust’s (HPHT.SI) IPO.
The trust owns Singapore’s largest shopping mall VivoCity as well as office assets.
Citigroup (C.N), DBS Bank (DBSM.SI), Deutsche Bank (DBKGn.DE) and Goldman Sachs (GS.N) are the joint global coordinators and, along with CIMB, are also joint bookrunners and issue managers.
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