Mapletree plans to raise S$800mln via IPO

Company mulls to sell 62.7% to 69% of the property trust to purchase industrial properties.

Mapletree Industrial Trust, a company linked to state investor Temasek, is looking to raise about S$800 million in a Singapore listing, joining a rush of new listings before the year end.

Mapletree Investments, a real estate firm wholly owned by Singapore Temasek, intends to sell between 62.7 percent and 69 percent of the property trust, and offer investors a distribution yield of as high as 8 percent, sources with knowledge of the deal told Reuters.

It is offering 917.5 million units with an option to sell another 91.75 million units if investor demand is strong, the sources said.

The meetings with investors will begin on Sept 15, roadshows on Sept 30 and pricing for the deal is expected on Oct 12, one of the sources said. Listing is seen on Oct 21.

Citigroup, DBS, Goldman Sachs and Standard Chartered are bookrunners for the IPO.

The IPO comes at a time when Singapore sovereign fund GIC's logistics unit GLP is launching a $3 billion IPO which could potentially be the biggest in Singapore.

View the full story in Reuters.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia