Mapletree Greater China Commercial Trust MGCCT has attracted 11 cornerstone investors to support its initial public offering, which is seeking to raise between S$1.52 billion and S$1.61 billion $1.2 billion to $1.3 billion.
The cornerstones, which include real estate specialists, insurance companies, sovereign money and other long-term investors, will buy 55.1% of the total offering, implying a combined investment of about $678 million at the bottom of the price range. The largest among them are real estate specialist CBRE Clarion Securities and Norges Bank Investment Management, the manager of Norway’s oil revenues, which will each invest at least $94.5 million.
The issuer has also lined up...
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