Mapletree puts $1bn IPO plans on hold

Mapletree Investments has postponed its planned commercial REIT IPO due to volatile markets arising from the earthquake and tsunami in Japan.

According to a report, Mapletree was expected to lodge a prospectus for the property trust's IPO on Monday but did not do so.

A Mapletree spokesperson told Singapore Business Review Magazine by email :"“Recent global events have caused much volatility in the capital markets. We are monitoring the market and will proceed with the next stage of our plans for a commercial REIT when the market conditions are more conducive.”

Mapletree Investments, a unit of Singapore investment firm Temasek Holdings, was reportedly looking to raise about S$1 billion through the listing of Mapletree Commercial Trust.

Markets across the world have been badly hit after the March 11 earthquake and tsunami in Japan. The political violence in the Middle East and North Africa had also triggered much market volatility.

With the less than stellar debut of Hutchison Port Holdings Trust last week, analysts are sceptical that coming listings in Singapore will see a favourable investor response in the near term.

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