Mapletree IPO oversubscribed by 8.38 times

Strong demand of approximately 4.99 billion Units was received for the Placement Tranche of 548,059,000 Units.

According to Mapletree Commercial Trust, these Units are from institutional investors from Asia and Europe, resulting in it being approximately 9.10 times subscribed with a total value of more than $4.38 billion.

At the close of the Public Offer on 25 April 2011 at 9.00 am, 25,931 valid applications representing 730,963,000 Units were received from retail investors for 134,066,000 Units available for the Public Offer (excluding the Reserved Units, as defined herein), resulting in it being approximately 5.45 times subscribed with a total value of approximately $643.2 million.

The 30,769,000 Units reserved for subscription by the directors, management, employees and business associates of Mapletree Investments and its subsidiaries were over-subscribed.

In all, the total demand of approximately 5.72 billion Units under the Placement Tranche and the Public Offer (excluding the Reserved Units) represents approximately 8.38 times the 682,125,000 Units available for subscription (excluding the Reserved Units and assuming the over-allotment option is not exercised), or approximately S$5.03 billion.

Commenting on the response to the IPO, MCTM’s Chief Executive Officer, Ms Amy Ng said, “We are pleased with the strong take up by both institutional and retail investors. Investors have good visibility of the organic growth immediately coming from the existing portfolio assets and can appreciate the total return story. We would like to thank them for their support."

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Tags: Mapletree Commercial Trust, Amy Ng