Mapletree Logistics Trust
Mapletree Logistics Trust has completed the private placement it launched on Wednesday. MLT told the Singapore Exchange yesterday morning it will issue 309.9 million new units at $1.21 apiece to raise $375 million.
The deal arrived near the low end of price talk between $1.196 and $1.234 per new unit. An upsize option for a further $100 million of units was not exercised. Trading in the new units is expected to start around Sept 28.
The trust will declare an advanced distribution of about 1.88 to 1.90 cents per existing unit for the period from July 1 to Sept 27. This is to ensure that the distribution accrued by MLT before the new units are issued is distributed only to holders of the existing units, to be fair to them.
The private placement was about 2.4 times covered, MLT said. It will use the $375 million proceeds to partially fund the purchase of five warehouses and to pay for various fees incurred for the acquisitions and private placement. MLT units closed down two cents to $1.24 yesterday.
OUE Lippo Healthcare
OUE Lippo Healthcare has received a listing and quotation notice for 2.2 billion new rights shares for its one-for-one rights offering. The firm, which is raising $148.8 million in net proceeds to help fund a proposed acquisition of stakes in First Reit and its manager Bowsprit Capital Corp, will issue the new rights shares at $0.0675 apiece.
The issue price represents a discount of about 43.8 per cent to the closing price of $0.12 on Sept 17, the last trading day before the rights issue was announced.
Aspen (Group) Holdings
Aspen (Group) Holdings' subsidiaries have received a writ of summons from units of IBM in Malaysia claiming RM7.7 million (S$2.5 million) for development services, according to a filing with the exchange yesterday.
Aspen, a property developer, is disputing the claims and plans to file a counterclaim. Its wholly owned subsidiaries AG Innovation and Aspen Vision All were served with the writ on Sept 19. IBM Malaysia and IBM Capital Malaysia filed the suit in the High Court of Malaya in Penang.
IBM Malaysia is claiming RM2.25 million against AG Innovation, and IBM Capital Malaysia is claiming RM5.42 million against both AG Innovation and Aspen Vision All. The claims stem from a cloud technology infrastructure platform and services for the development of intelligent features and amenities to Aspen.