Mapletree Commercial Writeup 30 Jan 12
Mapletree Commercial Trust’s (“MCT”) debut on Singapore Stock Exchange on 27 Apr 2011 with an IPO price of $0.880. Prior to its listing, some market watchers are expecting that it should do relatively well in terms of its share price performance. This is because Mapletree Industrial Trust launched its IPO half a year earlier and received a sterling debut (for a trust). Its first day and first week gain amounted to 22.7% and 16.7% respectively. Unfortunately, MCT did not perform as well. It closed unchanged on its first day and closed -1.1% lower for its first week. Since its listing, it only closed about six trading days above its IPO price.
What has happened to MCT? As of 30 Jan, it closed at $0.865. Is it doomed to stay below its IPO price of $0.880?
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