Mapletree Logistics Trust raises $250m through private placement

The placement was 13 times oversubscribed.

Mapletree Logistics Trust’s (MLT) overnight private placement of about 154.61 million units at $250m went 13 times oversubscribed, the company announced.

The issue price per unit was fixed at the top end of the price range at $1.617 following a book-building process.

Much of the proceeds will be used to partially fund the proposed acquisition of logistics properties, one in Malaysia at $269.9m (MYR826.0m), two in Vietnam at $53.3 m (US$38.9m) and a 50% interest in four in China at $60.7m (RMB314.3m), the latter two through acquisition of property holding companies.

The remaining $8.3m will be used to pay the professional and other fees and expenses in connection with the acquisitions and private placement

The trading of the units on the SGX-ST is expected to commence on 1 November.

Citigroup Global Markets Singapore., DBS Bank and the Singapore branch of The Hongkong and Shanghai Banking Corporation served as joint global coordinators and bookrunners for the placement.