Mapletree Commercial Trust (MCT) has proposed an equity fundraising comprising of 406.5 million new units to raise at least $902.3 million, to partially fund its $1.55 billion acquisition of Mapletree Business City (Phase 2), it said on Wednesday (Oct 16).

The Reit (real estate investment trust) manager also announced that it had obtained unitholders' approval at an extraordinary general meeting held on Tuesday for the proposed acquisition of Mapletree Business City (Phase 2), that would enlarge MCT's asset size from $7.4 billion to $8.9 billion.