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."

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
Retail
ION Orchard leads charge in sustainable takeaway practices
 Shoppers will enjoy discounts when they opt for a reusable mug or food container from Muuse.
Lendela on why banks need fintechs to buoy loan growth
Loan demand has doubled in Singapore, and fintechs can help onboard quality clients.