Mapletree Industrial Trust (MAPI.SI) plans to raise about $177 million through an offering of new units and a preferential offer to existing unitholders, according to a term sheet seen by Reuters on Wednesday.
Mapletree Industrial, which owns factories and other industrial assets in Singapore, will sell up to 48.5 million new units at $1.07-1.09 each. It will also offer existing holders 117 million new units at $1.05-1.07 apiece.
Mapletree Industrial, which owns factories and other industrial assets in Singapore, will sell up to 48.5 million new units at $1.07-1.09 each. It will also offer existing holders 117 million new units at $1.05-1.07 apiece.
The firm confirmed the equity fund-raising in a filing to the Singapore Exchange.
It said it intends to use the proceeds to partially finance the acquisition of 11 properties being sold by JTC Corp, including flatted factories and amenity centres, in Singapore.
Citigroup and DBS are managing the offer.
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