Following its announcement on the acquisition of 29 data centres in the US for a purchase consideration US$1.3 billion ($1.78 billion), Mapletree Industrial Trust (MINT) has launched an equity fund raise to raise gross proceeds of not less than $800 million.

In a filing to the Singapore Exchange (SGX), the manager of the REIT announced plans to issue new units via a private placement as well as a non-renounceable preferential offering to raise the targeted amount.

For the private placement, 190.3 million new units will be issued at a price between $2.63 and $2.70 per unit, amounting to total gross proceeds of around $500 million. The price range represents a discount between 2.3% - 4.8% to the volume-weighted average price (VWAP) of $2.76 per unit as of May 19.

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