Mapletree trust listing to raise up to $1.68 billion
Mapletree Investments is seeking to raise between $1.59 billion and $1.68 billion from the initial public offering (IPO) of a real estate investment trust with commercial properties in Hong Kong and China.
A preliminary prospectus was lodged with the Monetary Authority of Singapore today for Mapletree Greater China Commercial Trust, the company said.
The trust will offer a total of 776.6 million units, at an expected price of between 88 cents and 93 cents per unit.
About two thirds of the units will be placed out to investors and another 50.3 million units will be reserved for subscription by the directors, management, employees and business associates of Mapletree Investments.