Mapletree Commercial and North Asia Announces Merger

News about Mapletree Pan Asia Commercial Trust

Not to be outdone by Frasers and CapitaLand, Mapletree is merging two of its REIT as Mapletree Commercial Trust (MCT) will absorb Mapletree North Asia Commercial Trust (MNACT):

MNACT Unitholders will receive a scheme consideration of S$1.1949 (“Scheme Consideration”) for each MNACT Unit held by MNACT Unitholders as at the Record Date, which shall be satisfied by either:

  • 0.5963 new MCT Units (the “Consideration Units”) at an issue price of S$2.0039 per MNACT Unit (the “Scrip-Only Consideration”); or

  • a combination of 0.5009 Consideration Units and S$0.1912 in cash (the “Cash-and-Scrip Consideration”)

The operation is expected to take about 6 months to complete, after which MCT will be renamed Mapletree Pan Asia Commercial Trust (MPACT).

Mapletree Pan Asia Commercial Trust
Price1.680 SGD
NAV1.810 SGD
Yield (4 quarters)6.00%
Gearing40.1%