MNACT? What stock is that?
In case you are still unaware, Mapletree Greater China Commercial Trust (MGCCT) recently changed their name to Mapletree North Asia Commercial Trust (MNACT), to reflect expansion of investment mandate to whole of North Asia.
As one of my income stocks, I attended its AGM on 18 Jul to find out more about its past year performance and future growth strategies.
Here are my three takeaways from the AGM.
Choice of Private Placement over Rights Issue for Recent Fund Raising
One unit holder asked the management why was there no rights issue during the recent fund raising that allows retail investors to participate in the growth.
Chairman replied that the key reason is speed of raising funds. Rights issue process is much lengthier and requires way more parties' involvement and approval to proceed. Whereas for private placement, it is much faster to go straight to the ......