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Mapletree Logistics details results of preferential offering

Mapletree Logistics Trust received about 142.7% of the total number of new units available under its preferential offering, which closed Oct. 4.

The valid acceptances and excess applications in the offering totaled 356,918,571 new units. The gross proceeds raised by the company from the equity fundraising, including the roughly S$353.5 million raised from the private placement, totaled about S$640.0 million.

Under the preferential offering, the company will issue 250,187,292 new units at S$1.145 apiece, for roughly S$286.5 million in gross proceeds. Listing and quotation of such new units on the Singapore Exchange Securities Trading Ltd. are expected to take effect Oct. 12 at 9 a.m.

Immediately after the closing of the preferential offering, company sponsor Mapletree Investments Pte. Ltd. will have a total deemed interest in 1,086,093,329 units.

As of Oct. 5, US$1 was equivalent to S$1.36.