Mapletree has priced the initial public offering of its greater China real estate investment trust at the top end of the range, marking the biggest new listing in Singapore for more than two years.
Books closed on the Mapletree deal, leaving it priced at S$0.93 a share, people familiar with the situation said yesterday, at the top of the target range of 88 to 93 cents. The official pricing will be announced today.
The offering, which will raise S$1.61bn ($1.3bn), will be the largest IPO in Asia so far this year, and the third-largest ever in Singapore, the region’s hub for real estate listings.
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