After the previous preferential offering by Mapletree Logistics Trust (SGX:M44U) in Nov 2020, it is time for another round of equity fund raising.
Actually, I have been quietly anticipating for any of the Mapletree Reits to announce acquisitions and equity fund raising throughout the months and it has finally arrived. I like preferential offerings because it is a seamless and fuss-free way to add shares to increase investments in high quality income-producing Reit without incurring commissions and trading fees. Usually when such acquisition news are released, the price of the Reit will take a beating and undergo some weakness for a period of time, presenting opportunity to also add shares from the market.
On 23 Nov 2021 today, MLT has announced a proposed acquisition of 17 grade-A logistics properties in China (13), Vietnam (3) and Japan (1) for $1.4 billion. The 13 China properties will be acquired for 1.15 billion yuan (S$243.6 million) in cash...