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 ......
