private placement

SPH REIT launches private placement to raise more than $161.5 mil to help fund Australian shopping centre acquisition

SINGAPORE (Nov 21): The manager of SPH REIT has announced the launch of a private placement to raise gross proceeds of no less than $161.5 million to partially fund its proposed acquisition of a 50.0% stake in Westfield Marion Shopping Centre in South Australia.

Under the private placement, SPH REIT will issue some 156.6 million new units at an issue price of between $1.031 and $1.075 each.

Ascendas India Trust launches private placement to help fund potential investment in Bangalore

SINGAPORE (Nov 19): The trustee-manager of Ascendas India Trust (a-iTrust) has announced a private placement to raise gross proceeds of at least $100.0 million to help fund a potential investment in a business park in Bangalore.

Under the private placement, a-iTrust will issue at least 66.3 million new units at an issue price of between $1.465 and $1.508.

The issue price range represents a discount of between 2.9% and 5.7% for the volume weighted average price (VWAP) for trades done on Nov 18 – the last trading day before the placement agreement was signed.

Mapletree Logistics Trust launches private placement to raise $250 mil for acquisition of 7 properties

SINGAPORE (Oct 22): The manager of Mapletree Logistics Trust (MLT) has announced a proposed private placement to raise gross proceeds of around $250.0 million to help fund the trust’s proposed acquisition of seven logistics properties in Malaysia, Vietnam and China.

In a bourse filing on Tuesday, MLT says it will offer between 154.6 million and 158.3 million new units at an issue price of between $1.579 and $1.617 each in a private placement to institutional, accredited and other investors.

Mapletree Commercial Trust launches equity fund raising to raise more than $902 mil to help fund MBC 2 acquisition

SINGAPORE (Oct 16): The manager of Mapletree Commercial Trust (MCT) has proposed an equity fund raising to raise gross proceeds of no less than $902.3 million.

This comes after unitholders on Tuesday approved the proposed $1.58 billion acquisition of Mapletree Business City (Phase 2) (MBC 2) along with the common premises.

The equity fund raising will comprise an offering of a total of 406.5 million new units in MCT via a private placement and a preferential offering.

Manulife US REIT raises US$142.7 mil from private placement, preferential offering

SINGAPORE (Sept 20): The manager of Manulife US REIT announced Friday it has raised total gross proceeds of US$142.7 million ($196.6 million) from its private placement and preferential offering. 

The private placement was more than seven times covered at the top end of the issue price range at 87.6 US cents, while the issue price under the preferential offering was fixed at 86 US cents.

Mapletree Industrial Trust raises $400 mil in private placement to help fund new acquisition

SINGAPORE (Sept 18): Mapletree Industrial Trust (MIT) has closed an upsized private placement of a total of 176.6 million new units at $2.265 each – the top of the issue price range – to raise gross proceeds of nearly $400 million.

The private placement was approximately 6.3 times covered, after taking into account the exercise of the upsize option to issue 18.3 million additional new units.

CRCT in $279 mil private placement, preferential offering to help fund mall buys

SINGAPORE (Aug 2): The manager of CapitaLand Retail China Trust (CRCT) has proposed an equity fund raising to raise gross proceeds of between $273.4 million to $279.4 million.

The manager intends to use the gross proceeds from the equity fund raising to foot part of the $505.4 million bill for its proposed acquisition of three malls in China from sponsor CapitaLand.

FLT raises $258.1 mil through private placement to help fund new acquisitions

SINGAPORE (July 31): Frasers Logistics & Industrial Trust (FLT) has raised $258.1 million through a private placement to partially fund its proposed acquisitions of 12 logistics properties in Australia and Germany.

See: Frasers Logistics & Industrial Trust to acquire stakes in 12 properties in Germany, Australia from sponsor for $482 mil

CCT raises $220 mil from private placement for Frankfurt office acquisition

SINGAPORE (July 18): CapitaLand Commercial Trust has closed the book of orders for the private placement agreement signed and launched on Wednesday.

CCT’s manager says the placement managed to raise $220 million from the issue of some 105 million new units at $2.095 each.

The issue price represents a discount of 3.7% to the volume weighted average price (VWAP) of $2.1762 per unit for trades done on Wednesday.

It is also at the middle of the $2.043-$2.105 price range set out in the placement agreement.

Cromwell European REIT buys 6 properties in France, Poland for $378 mil; launches placement

SINGAPORE (June 21): The manager of Cromwell European REIT (CEREIT) is acquiring six freehold properties -- three in France and Poland each -- for a total of €246.9 million ($378 million) or €2,238 per sqm.

The French properties comprise three mainly office properties located in or near the major business districts of Ivry-sur-Seine, La Défense and Charles de Gaulle Étoile.

Meanwhile, the Polish properties comprise two predominantly office properties in Kraków and an office property in Poznań.

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