Mapletree deal to be S'pore's biggest Reit IPO
By Nikki De Guzman: Property giant Mapletree Investments, a unit of Temasek Holdings, aims to raise US$1.2 billion (S$1.5 billion) in its initial public offering (IPO) of a real estate investment trust (Reit) backed by assets in Hong Kong and China, reported Bloomberg.
The deal is expected to be the biggest Reit IPO in Singapore.
According to sources, Mapletree Greater China Commercial Trust may start trading in March in Singapore and will include Hong Kong's upmarket shopping mall – Festival Walk and the Gateway Plaza office complex in Beijing.
It is projected to outperform two of Mapletree's previous offerings – Mapletree Commercial Trust which raised US$754 million in 2011 and Mapletree Industrial Trust, which recorded a US$714 million IPO in 2010.
The sources said the deal is being managed by Citigroup, Goldman Sachs Group, DBS Group Holdings and HSBC Holdings.
After the listing, Mapletree will likely own over 30 percent of the Reit. Nikki De Guzman, Junior Reporter at PropertyGuru, wrote this story. To contact her about this or other stories email nikki@allproperty.com.sg Related Stories: Ascott continues expansion in North America
2013 a challenging year for Keppel Land?
Construction on Q Bay Residences to begin in April
More from PropertyGuru:
Ascott continues expansion in North America
2013 a challenging year for Keppel Land?
Construction on Q Bay Residences to begin in April
Ascott joins forces with China developer
