I don't know about you, but the branding of these 2 counters is for sure confusing. One is Mapletree LOGISTICS Trust and another is Mapletree INDUSTRIAL Trust.
Mapletree Logistics Trust has said it is raising S$300 million in capital through the issue of new shares to fuel its growth plans.
The fund raising will comprise a combination of private placement and preferential offering of more than 370 million new units.
The Trust said it hopes to raise around S$170 million from the private placement of new units offered at a price range of between 82 and 84 cents per unit.
It also hopes to raise proceeds in excess of S$130 million through the preferential offering of new units priced at between 81 and 83 cents per unit.
From the S$300 million in proceeds raised, the Trust will use S$120 million to fund four previously-announced acquisitions.
These include Mapletree Logistics Centre in Vietnam, the Natural Cool Lifestyle Hub and A-W Centre in Singapore as well as the Multi-Q Centre in South Korea.
A further S$105 million will be used to fund the purchase price and the acquisition-related costs of three potential Singapore acquisitions and one Japanese acquisition for which Mapletree is currently in advance negotiations.
Another S$70 million will be deployed to partially fund the completion of three Japanese acquisitions and other new potential acquisitions in the pipeline.
The balance will be used to pay for estimated fees and expenses as well as general working capital.
From Channel NewsAsia, "Mapletree Logistics Trust raising S$300m through issue of new shares".
