Mapletree Industrial Trust (MIT), the Singapore-focused real estate investment trust (REIT) and one of the largest landlords of industrial space in Singapore, enjoyed a strong trading debut at 2.00 p.m. today on the Mainboard of Singapore Exchange.
The IPO raised gross proceeds of $1.19 billion from the offering of 594,913,000 units to the public and under the placement tranche, as well as the Mapletree cornerstone subscription units and the cornerstone units (as defined below).
MIT’s units opened strongly at $1.15 per unit, a 23.7% increase over its offering price of $0.93 per unit (Offering Price). The units reached an all-day high of $1.20 per Unit, a 29.0% jump over its offering price.
At the close of trading, the units ended 24.7% higher than its offering price of $0.93 at $1.16 per unit with 345 million units changing hands, making it the most actively traded counter on the SGX today.
Commenting on the trading debut, Mr Tham Kuo Wei, Chief Executive Officer of Mapletree Industrial Trust Management Ltd, as manager of MIT, says, “We are delighted with MIT’s excellent trading debut, which is a strong indication of the market’s confidence in the fundamentals and growth prospects of MIT.”
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