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421-440 of 846
It won' t happen, when the black market is involved.
After the rights issue is over, expect the price to move over $2.00 in a short while, barring unforeseen circumstances. It is a good acquisition and is dpu accretive based on the fixed rights issue price.
After the rights issue is over, expect the price to move over $2.00 in a short while, barring unforeseen circumstances. It is a good acquisition and is dpu accretive based on the fixed rights issue price.
halleluyah ( Date: 24-Nov-2021 09:21) Posted:
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Wow. Suddenly so much interest. 
MLT' s private placement priced at S$1.88 per unit preferential offering at S$1.84 per unit
MAPLETREE Logistics Trust on Wednesday priced its private placement and preferential offering at S$1.88 and S$1.84 per unit, respectively.
Total gross proceeds of the fundraising exercise will be some S$692.8 million, comprising S$400 million from the private placement and S$292.8 million from the preferential offering.
Some 97.5 per cent or S$675.5 million of the gross proceeds will be used to fund these acquisitions, while 2.5 per cent or S$17.3 million will be used to pay for fees and expenses in connection with the acquisitions and equity fundraising.
Some 212.8 million new units will be issued under the private placement while 159.1 million new units will be issued under the preferential offering.
In connection with the private placement, the manager intends to declare an advanced distribution for the period from Oct 1 to Dec 2. The distribution per existing unit is currently estimated to be between S$0.0145 to S$0.0147. A further announcement on the actual quantum will be made in due course, the manager noted.
The private placement issue price of S$1.88 per new unit came in at the lower end of the price range. It represents a discount of 2.8 per cent to the adjusted volume-weighted average price (VWAP) of S$1.9339 per unit, for trades done on the preceding market day on Nov 22 up to the time the underwriting agreement was entered, minus the estimated advanced distribution of S$0.0146 per unit.
It is also a 3.5 per cent discount to the VWAP of S$1.9485 per unit for all trades done on the Singapore Exchange Nov 22.
According to the trust manager, the placement was oversubscribed and saw good participation from new and existing institutional, accredited and other investors.
The preferential offering issue price of S$1.84 per new unit was around the mid-point of the indicated price range. It represents a discount of 4.9 per cent to the adjusted VWAP of S$1.9339 per unit and 5.6 per cent to the VWAP of S$1.9485 per unit.
Dilution rate is not much. Therefore the drop should not be much
halleluyah ( Date: 24-Nov-2021 09:21) Posted:
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let it drop to ard 1.87...cd only 0.0145 niah..........
kt3152 ( Date: 24-Nov-2021 08:48) Posted:
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Mapletree Logistics Trust to acquire logistics assets worth S$1.4b in China, Vietnam and Japan
MAPLETREE Logistics Trust (MLT) Mapletree Log Tr: M44U 0% is acquiring a portfolio of 17 grade-A logistics assets with an average age of 1.6 years in China, Vietnam and Japan for a combined total value of S$1.4 billion.
In a bourse filing on Tuesday (Nov 23), the manager said that proposed acquisitions of 13 properties located in China, through subsidiaries of Mapletree Investments and a subsidiary of Itochu Corporation, amounts to S$870 million, while acquisitions of 3 properties in Vietnam, through the subsidiary of Mapletree Investments, is S$129.9 million.
Separately, the manager also announced the proposed acquisition of an effective 97 per cent in the trust beneficial interest of Kuwana Logistics Centre located in Japan. The acquisition is from an unrelated third party vendor at an agreed property value of S$416.3 million. The remaining 3 per cent effective interest in the property will be held by Mapletree Investments Japan Kabushiki Kaisha, an indirect wholly owned subsidiary of MLT.
The 13 new assets in China will be acquired for 1.15 billion yuan (S$243.6 million) in cash, while the remaining amount will be inter-company loans worth 1.77 billion yuan that MLT will pay through cash and new units, as well as 1.24 billion yuan in bank loans. For Vietnam' s properties, US$14.4 million will be satisfied in cash, while the rest will be an undertaking of inter-company loans. Whereas for the new Japanese property, which comes at a discount of about 1.7 per cent to the independent valuation, will be paid for fully in cash.
The trust on Nov 23 proposed an equity fundraising of new units in MLT to raise gross proceeds of about S$700 million. Some S$675.5 million of the amount will be used to fund the acquisitions, while S$24.5 million will be used to pay for fees and expenses in connection with the acquisitions and equity fundraising.
The fundraising includes a private placement of between 209.3 million and 215.1 million new units at an issue price of between S$1.86 and S$1.911 per new unit, to raise gross proceeds of approximately S$400 million. This represents a volume-weighted average price (VWAP) discount of 1.2 per cent and 3.8 per cent to the adjusted VWAP of S$1.9339 per unit respectively.
A non-renounceable preferential offering of up to 163.4 new units to existing eligible unitholders at an issue price of between S$1.82 and S$1.87 per new unit is also proposed to raise gross proceeds of about S$300 million. This represents a 1.9 per cent and a 4.5 per cent discount respectively to the VWAP of S$1.9485 per unit of all trades on the Singapore Exchange for the preceding market day on Nov 22.
DBS, HSBC Singapore and OCBC have been appointed as the joint global coordinators and bookrunners for the fundraising.
The China acquisitions will deepen MLT' s presence in the region which will now see 43 assets in 29 cities. The scarcity of grade-A warehouses in the China market as well as the location of the properties in close proximity to large population catchments bring key benefits to unitholders, the manager noted.
" The enlarged portfolio allows MLT to offer tenants a multi-city network of warehouse facilities, positioning MLT to be the preferred partner for fast-growing tenants looking to build presence across the country," the manager said.
Vietnam is also a beneficiary of the structural trend of supply chain diversification, with competitive costs and an attractive investment environment.
The manager added: " With rising consumption, an expanding middle-income urban population and strong e-commerce adoption rate, demand for quality logistics space is expected to remain robust, while supply of Grade-A logistics space remains limited."
Meanwhile, the Japan Property to be acquired is a freehold, 5-storey dry logistics facility with a gross floor area of over 1.7 million square feet. It is located within an established industrial and logistics cluster in Greater Nagoya, and is in close proximity to Nagoya City, Nagoya Port and Centrair Airport, as well as the ShinMeishin Expressway.
Chief executive officer of the manager, Ng Kiat said that the acquisitions in China and Vietnam will expand MLT' s network connectivity in those large growing consumer markets while the acquisition in Japan will scale up MLT' s presence in Greater Nagoya, an attractive logistics market strategically located between Greater Tokyo and Greater Osaka.
" The pandemic has highlighted the importance of logistics and placed a greater emphasis on supply chain resiliency, fuelling demand for modern logistics space," she added.
The Preferential Offering Issue Price of S$1.84 per New Unit represents a discount of:
(i) (for illustrative purposes only) 4.9% to the Adjusted VWAP of S$1.9339 per Unit and
(ii) 5.6% to the VWAP of S$1.9485 per Unit.
A total of 212,766,000 New Units will be issued under the Private Placement, and a total of
159,109,907 New Units will be issued under the Preferential Offering, on the basis of 37 New
Units for every 1000 existing Units (the ?Existing Units?) (fractions of a New Unit to be
disregarded) to be held as at 5.00 p.m. on 1 December 2021, being the record date to eligible
holders of the Units (?Unitholders?). The total gross proceeds of the Equity Fund Raising will
be approximately S$692.8 million comprising approximately S$400.0 million from the Private
Placement and approximately S$292.8 million from the Preferential Offering.
kt3152 ( Date: 24-Nov-2021 08:44) Posted:
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It is already announced in sgx news today...
TheDuellist ( Date: 24-Nov-2021 08:28) Posted:
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Understand this is a non-renouncable Rights Issue exercise, that means you cannot trade your entitled Rights given to you. So you either pay a price to exercise(subscribe) or simply let it lapse. Eventually the Rights will become an actual share.
As mentioned before, the Rights entitlement ratio is not determined yet. Similarly the Rights exercise price is also not announced.
Now, just wait for further announcements.
Very important to take note & remember all the Dates.
As mentioned before, the Rights entitlement ratio is not determined yet. Similarly the Rights exercise price is also not announced.
Now, just wait for further announcements.
Very important to take note & remember all the Dates.
winrider ( Date: 23-Nov-2021 17:53) Posted:
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2020 rights was 1.99 now under water......
Thanks for info.
They haven' t fixed the ratio and the final price, and the x-date for the entitlement of the rights. They will test water with the private placement investors first. After the x-date of entitlement, you wait for their letter inviting you to subscribe. You can do it via atm, pay now, or cash cheque. In the letter you will also be informed of the closing date. Good luck.
winrider ( Date: 23-Nov-2021 17:53) Posted:
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Hi I am new and hope to seek some advice. So for this fund raising exercise, what are the required actions by retail shareholders?
Don' t be ridiculous.
This is a power stock.
This is a power stock.
So I think if do nothing, current holding will just drop to 1.81?
More on the proposed acquisitions
The China acquisitions will deepen MLT' s presence in the region which will now see 43 assets in 29 cities. The scarcity of grade-A warehouses in the China market as well as the location of the properties in close proximity to large population catchments bring key benefits to unitholders, the manager noted.
" The enlarged portfolio allows MLT to offer tenants a multi-city network of warehouse facilities, positioning MLT to be the preferred partner for fast-growing tenants looking to build presence across the country," the manager said.
Vietnam is also a beneficiary of the structural trend of supply chain diversification, with competitive costs and an attractive investment environment.
The manager added: " With rising consumption, an expanding middle-income urban population and strong e-commerce adoption rate, demand for quality logistics space is expected to remain robust, while supply of Grade-A logistics space remains limited."
Meanwhile, the Japan Property to be acquired is a freehold, 5-storey dry logistics facility with a gross floor area of over 1.7 million square feet. It is located within an established industrial and logistics cluster in Greater Nagoya, and is in close proximity to Nagoya City, Nagoya Port and Centrair Airport, as well as the ShinMeishin Expressway.
Chief executive officer of the manager, Ng Kiat said that the acquisitions in China and Vietnam will expand MLT' s network connectivity in those large growing consumer markets while the acquisition in Japan will scale up MLT' s presence in Greater Nagoya, an attractive logistics market strategically located between Greater Tokyo and Greater Osaka.
" The pandemic has highlighted the importance of logistics and placed a greater emphasis on supply chain resiliency, fuelling demand for modern logistics space," she added.
The fund raising part...
The trust on Nov 23 proposed an equity fundraising of new units in MLT to raise gross proceeds of about S$700 million. Some S$675.5 million of the amount will be used to fund the acquisitions, while S$24.5 million will be used to pay for fees and expenses in connection with the acquisitions and equity fundraising.
The fundraising includes a private placement of between 209.3 million and 215.1 million new units at an issue price of between S$1.86 and S$1.911 per new unit, to raise gross proceeds of approximately S$400 million. This represents a volume-weighted average price (VWAP) discount of 1.2 per cent and 3.8 per cent to the adjusted VWAP of S$1.9339 per unit respectively.
A non-renounceable preferential offering of up to 163.4 new units to existing eligible unitholders at an issue price of between S$1.82 and S$1.87 per new unit is also proposed to raise gross proceeds of about S$300 million. This represents a 1.9 per cent and a 4.5 per cent discount respectively to the VWAP of S$1.9485 per unit of all trades on the Singapore Exchange for the preceding market day on Nov 22.
DBS, HSBC Singapore and OCBC have been appointed as the joint global coordinators and bookrunners for the fundraising.
Since no one bother to post this.....
Mapletree Logistics Trust to acquire logistics assets worth S$1.4b in China, Vietnam and Japan
MAPLETREE Logistics Trust (MLT) is acquiring a portfolio of 17 grade-A logistics assets with an average age of 1.6 years in China, Vietnam and Japan for a combined total value of S$1.4 billion.
In a bourse filing on Tuesday (Nov 23), the manager said that proposed acquisitions of 13 properties located in China, through subsidiaries of Mapletree Investments and a subsidiary of Itochu Corporation, amounts to S$870 million, while acquisitions of 3 properties in Vietnam, through the subsidiary of Mapletree Investments, is S$129.9 million.
Separately, the manager also announced the proposed acquisition of an effective 97 per cent in the trust beneficial interest of Kuwana Logistics Centre located in Japan. The acquisition is from an unrelated third party vendor at an agreed property value of S$416.3 million. The remaining 3 per cent effective interest in the property will be held by Mapletree Investments Japan Kabushiki Kaisha, an indirect wholly owned subsidiary of MLT.
The 13 new assets in China will be acquired for 1.15 billion yuan (S$243.6 million) in cash, while the remaining amount will be inter-company loans worth 1.77 billion yuan that MLT will pay through cash and new units, as well as 1.24 billion yuan in bank loans. For Vietnam' s properties, US$14.4 million will be satisfied in cash, while the rest will be an undertaking of inter-company loans. Whereas for the new Japanese property, which comes at a discount of about 1.7 per cent to the independent valuation, will be paid for fully in cash.
The trust on Nov 23 proposed an equity fundraising of new units in MLT to raise gross proceeds of about S$700 million. Some S$675.5 million of the amount will be used to fund the acquisitions, while S$24.5 million will be used to pay for fees and expenses in connection with the acquisitions and equity fundraising.
The rights issue of each company in the Mapletree Group, follows almost the same pattern..
- they would have two fund raising, one private placement and one preferential offerings to unit holders. Because private placement is faster, the company would use the funds from private placement for urgent disposal.
- the preferential offerings to unit holders are issued at a discount to the private placement price offer.... so even if the private people throw, they wont throw at rights issue price.. this would encourage unit holders to subscribe...
- company would often gave an advance dpu of the next half yearly or quarterly earnings, but only pre rights shares will be entitled to it (the advance dpu), the rights shares will not. You can use this advance dpu to pay for part of the rights subscription. This would also discourage some pessimistic unit holders from selling on the rights issue news
- they are generous in giving out excess rights, but you must not be overly greedy. If you are entitled to, say, 688 rights, and you apply to round it up to 1000 for example, you' ll sure to get it. Even if you add another 1000, you will likely to get it. But don' t go add apply for, say, 500% more.
- You will get news that the rights are so many times oversubscribed, yet you are still able to get the excess. How is this so? At first I was puzzled too. Luckily I got info from the coffee lady that, not only the insiders and directors will not get excess, but the manager (and sponsor also) of the Reit will give up their shares which they often receive in fees to satisfy your excess. This is their way of disposing their shares without affecting the share prices. True or not, I don' t know. This is coffee shop stories.
vested. Pdyohwadfmb
- they would have two fund raising, one private placement and one preferential offerings to unit holders. Because private placement is faster, the company would use the funds from private placement for urgent disposal.
- the preferential offerings to unit holders are issued at a discount to the private placement price offer.... so even if the private people throw, they wont throw at rights issue price.. this would encourage unit holders to subscribe...
- company would often gave an advance dpu of the next half yearly or quarterly earnings, but only pre rights shares will be entitled to it (the advance dpu), the rights shares will not. You can use this advance dpu to pay for part of the rights subscription. This would also discourage some pessimistic unit holders from selling on the rights issue news
- they are generous in giving out excess rights, but you must not be overly greedy. If you are entitled to, say, 688 rights, and you apply to round it up to 1000 for example, you' ll sure to get it. Even if you add another 1000, you will likely to get it. But don' t go add apply for, say, 500% more.
- You will get news that the rights are so many times oversubscribed, yet you are still able to get the excess. How is this so? At first I was puzzled too. Luckily I got info from the coffee lady that, not only the insiders and directors will not get excess, but the manager (and sponsor also) of the Reit will give up their shares which they often receive in fees to satisfy your excess. This is their way of disposing their shares without affecting the share prices. True or not, I don' t know. This is coffee shop stories.
vested. Pdyohwadfmb
ANNOUNCEMENT LAUNCH OF EQUITY FUND RAISING TO RAISE GROSS PROCEEDS OF APPROXIMATELY S$700.0 MILLION
Issue Price Range : Between S$1.860 and S$1.911 for each New Unit under the Private Placement
Between S$1.82 and S$1.87 for each New Unit under the Preferential Offering
https://links.sgx.com/1.0.0/corporate-announcements/VJKS0S3QC1NC5RAJ/691769_20211123-MLT-Launch%20of%20Private%20Placement.pdf
Issue Price Range : Between S$1.860 and S$1.911 for each New Unit under the Private Placement
Between S$1.82 and S$1.87 for each New Unit under the Preferential Offering
https://links.sgx.com/1.0.0/corporate-announcements/VJKS0S3QC1NC5RAJ/691769_20211123-MLT-Launch%20of%20Private%20Placement.pdf
is that negative for the stock price?
Lobster ( Date: 23-Nov-2021 00:02) Posted:
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