REIT History: AIMSAMP Capital Industrial Reit

AIMSAMP Capital Industrial Reit is the 2nd largest of my REIT counters.  I dug out history of the Reit from the Internet and I am particularly interested on its placements and rights issues in the past.

Apr 2007:
– IPO at $1.20 as Macarthurcook Industrial Reit, with 12 properties in the initial portfolio
– End 2007: 15 properties. Unit price: $0.97
(20% decline from IPO price)

2008:
– Increased number of properties since IPO to 21
– Global Financial Crisis
– End 2008: 21 properties. Unit price: $0.22
(Perhaps expanding too aggressively, MI Reit faced escalating debt issues compounded by GFC.  Crashed 82% from IPO price just one year ago)

2009:
– Cambridge Industrial Trust sought to take over control of MI Reit. The move blocked by MAS because of potential conflict of interest issues
– Recapitalisation of MI Reit with Private Placement at …

Read the full article →

Leave a Reply

Your email address will not be published. Required fields are marked *