Mapletree Industrial Snaps Japanese Data Centre, Raises Equity

News about Mapletree Industrial Trust

Mapletree Industrial Trust is announcing the purchase of a data centre in Osaka, Japan, for S$503.8 million as well as an S$200 million equity raise via a private placement of new units:

The acquisition is also expected to be distribution per unit-accretive and net asset value per unit-accretive to unit holders, at a rate of 2.1 per cent and 0.5 per cent respectively, said the manager.

MIT said it intends to raise $200 million via issuing about 92.6 million new units at an issue price of between $2.16 and $2.212 per unit to fund the Osaka transaction. The remaining $4.3 million will be used for paying fees and expenses incurred by the fund raising.

Mapletree Industrial Trust
Price2.170 SGD
NAV1.760 SGD
Yield (4 quarters)6.19%
Gearing38.7%