Mapletree Logistics Trust (M44U.SG) +4.0% at $0.92, with volume spiking to over 43 million shares traded vs 50-day average volume of about 4 million. 

Trader at local brokerage says no obvious reason for today’s rise, though some people talking about “a case of mistaken identity.” Says retail investors may have bought counter, confusing it with Mapletree Industrial Trust (ME8U.SG), which due to start trading after lunch at 2 p.m. 

 

For Mapletree Industrial, REIT owned by Temasek Holdings’ Mapletree Investments, says gray market price around S$1.03/unit vs IPO price at $0.93; doesn’t expect REIT to rise much beyond that as price translates to yield around 6%. Offer 37.9X subscribed, could raise as much as $1.19 billion if overallotment option exercised.