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 $1.143 and $1.175, 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.