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Mapletree Logistics Trust raises $353.5m from private placements
It also bagged $286.5m from a preferential offering.
Mapletree Logistics Trust (MLT) is on a roll after gaining over $640m from recently finished equity fund raising (EFR) exercises.
According to OCBC Investment Research, it finished a private placement that was 3.3x covered.
A final issue price of $1.175 came in at the top end of the range between $1.113 and $1.145, which could reflect the firm interest in MLT's prospects. Gross proceeds amounted to $353.5m.
MLT also announced a non-renounceable preferential offering (PO) on the basis of one unit for every 10 existing ones.
The issue price of $1.145 is also at the top end of the indicative range between $1.113 and $1.145.
This raised gross proceeds to $286.5m.
The EFR was conducted as part of the fundraising for its acquisition of Mapletree Logistics Hub Tsing Yi in Hong Kong from its sponsor Mapletree Investments Pte Ltd. for $834.8m.
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