Mapletree Greater China Commercial Trust MGCCT is expected to price its initial public offering at the top of the range today after attracting huge interest from institutional investors, sources say. This will allow it to raise S$1.61 billion $1.3 billion from what will be the largest IPO by a real estate investment trust Reit in Singapore ever.
The Reit, which has two commercial assets in its initial portfolio, including the popular Festival Walk shopping centre in Hong Kong, is selling 65% to public investors, while 35% will be bought by entities owned by the Mapletree Group. However, the deal comes with a greenshoe option of all secondary shares that could...
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