Mapletree Commercial Trust (MCT) announced that it will raise at least $893 million in an initial public offering (IPO). This will be the second biggest listing in Singapore this year.
The Reit will have 713 million units priced at 88 cents each giving a forecast yield of 5.7% (4.97 cents) for next year and 6.2% (5.42 cents) for 2012.
MCT owns PSA building, Vivocity mall and office complexes including the Bank of America Merrill Lynch Harbourfront and PSA Building.
The public offer for the Mapletree Commercial Trust IPO opens on 19th April 2011 and closes at 9am on 25th April 2011.
Trading of MCT on the Singapore Exchange is expected to start two days later on 27th April 2011.
You can find the MCT prospectus below:
Mapletree Commercial Trust Prospectus (9 Mb)
Investors in Reits might want to read this other article that I wrote: