Mapletree Logistics Trust completes the acquisition of 12 logistics assets in China

Approximately 97.5% of the gross proceeds of the equity fund raising it raised in Nov 2021 has been used to fund the acquisition

The manager of Mapletree Logistics Trust (MLT) has announced the acquisition completion for 12 out of the 13 logistics assets it has proposed to acquire in China.

Approximately $675.5 million, or 97.5% of the gross proceeds of the equity fund raising it raised in Nov 2021 has been used to partially fund the acquisition, it said in a filing.

The remaining 2.5% of the gross proceeds or approximately $17.3 million will be used to pay the professional and other fees and expenses incurred by MLT in connection with the acquisitions and the equity fund raising.

On Nov 22, MLT announced that it will acquire the 13 logistics assets in China for RMB4.1 billion and three logistics properties in Vietnam for US$95.9 million.

Units in MLT closed flat at $1.78 on Jan 20.

See Also:

• Click here to stay updated with the Latest Business & Investment News in Singapore

• Mapletree Logistics Trust raises $692.8 mil in equity funding for acquisitions in China, Vietnam and Japan

• UOB Kay Hian and CGS-CIMB maintain 'hold' calls on MLT, citing unattractive yield

• Mapletree Logistics Trust posts 5.7% growth in 2QFY21/22 DPU of 2.173 cents

• Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World

• Get in-depth insights from our expert contributors, and dive into financial and economic trends

• Follow the market issue situation with our daily updates

• Or want more Lifestyle and Passion stories? Click here