Mapletree Industrial to raise $1.19 in IPO

Offers 594,913,000 units with total gross proceeds of about S$1.19bln to be raised starting on Wednesday.

Mapletree Industrial Trust (“MIT”), a Singapore-focused real estate investment trust (“REIT”) and one of the largest landlords of privately-owned multi-user flatted factory space in Singapore has registered its prospectus (the “Prospectus”) with the Monetary Authority of Singapore on Tuesday, in connection with its listing on the Main Board of Singapore Exchange Securities Trading Limited (the “SGX-ST”). With an extensive portfolio consisting of high quality industrial properties, as well as a large and diversified tenant base, MIT presents investors an attractive opportunity to participate in Singapore’s robust economy and resilient industrial property market, accordig to a Mapletree Industrial report.

Offering Information
Mapletree Industrial Trust Management Ltd., as manager (the “Manager”) of MIT, is making an offering (the “Offering”) of 594,913,000 Units for subscription.

The Offering comprises:
(i) an international placement of 488,768,000 Units to investors (the “Placement Tranche”); and
(ii) an offering of 106,145,000 Units to the public in Singapore (the “Public Offer”), of which 25,500,000 Units are reserved for subscription by the directors, management, employees and business associates of Mapletree Investments Pte Ltd (“MIPL” or the “Sponsor”) and its subsidiaries.

As a result of positive feedback from institutional investors during the book-building process, the Units have been priced at the top end of the indicative offering price range at S$0.93 per Unit.

Concurrently with, but separate from the Offering, MIPL, a leading Asia-focused real estate capital management company and the sponsor of MIT, will subscribe for 359,449,000 Units (the “Mapletree Cornerstone Subscription Units”) at the Offering Price through two of its wholly-owned subsidiaries. This reinforces the Sponsor’s strong support of and commitment to MIT.

In addition, MIT has secured prominent cornerstone investors such as Stichting Depository APG Tactical Real Estate Pool, American International Assurance Company Limited, Singapore Branch, American International Assurance Company (Bermuda) Limited, Henderson Global Investors, Columbia Wanger Asset Management, LLC, D.E. Shaw Valence International, Inc. and Prudential Asset Management (Singapore) Limited (acting for itself and on behalf of one or more investment funds and clients), who have subscribed for an aggregate of 322,578,000 Units (the “Cornerstone Units”). These Cornerstone Units are also separate from the Offering.

The Public Offer opens at 9.00 a.m. on Wednesday, 13 October 2010 and closes at 8.00 a.m. on Monday, 18 October 2010. The Units are expected to commence trading on the SGX-ST at 2.00 p.m. on Thursday, 21 October 2010.