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Mapletree Industrial Trust closes $513 mil private placement, sets preferential offering issue price at $2.64

Atiqah Mokhtar
Atiqah Mokhtar5/21/2021 8:45 AM GMT+08  • 2 min read
Mapletree Industrial Trust closes $513 mil private placement, sets preferential offering issue price at $2.64
The REIT will receive about $823 mil in total gross proceeds from the equity fund raise.
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Following the launch of Mapletree Industrial Trust’s (MINT) equity fund raising on May 20, the manager has announced that the private placement was closed with the issue price fixed at $2.696 per new unit, raising gross proceeds amounting to $512.9 million.

The placement was covered 3.1 times, with 190.3 million new units to be issued. The issue price represents a 1.5% discount to adjusted volume-weighted average price (VWAP) of $2.74 and 2.3% discount to VWAP of $2.76 as of May 19.

The manager also announced that the issue price for the proposed preferential offering has been fixed at $2.64 per new unit, representing a 3.6% discount to adjusted VWAP and a 4.3% discount to VWAP. 117.6 million new units will be issued under the offering, on the basis of 5 new units for every 100 existing units held by eligible unitholders, which will raise $310.4 million in gross proceeds.

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