Author's Note
Mapletree Commercial Trust was supposed to go for IPO in March but has delayed it due to the earthquake in Japan. It is now going ahead with the IPO in April.
The preliminary prospectus is now available at the MAS Opera website. Click the "Latest" link under the category "Collective Investment Scheme Offers".
Following is an extract of the indicative IPO time table taken from the preliminary prospectus:
| Date and time | Event |
| 19 April 2011, 9:00 a.m. | Opening date and time for the Public Offer. |
| 25 April 2011, 9:00 a.m. | Closing date and time for the Public Offer. |
| 26 April 2011 | Balloting of applications under the Public Offer, if necessary. Commence returning or refunding of application monies to unsuccessful or partially successful applicants and commence returning or refunding of application monies to successful applicants for the amount paid in excess of the Offering Price, if necessary. |
| 27 April 2011, at or before 2:00 p.m. | Completion of the acquisition of MLHF and PSAB. |
| 27 April 2011, 2:00 p.m. | Commence trading on a “ready” basis. |
| 3 May 2011 | Settlement date for all trades done on a “ready” basis on 27 April 2011 |
Note that the above timetable is indicative only and is subject to change.
Some preliminary figures to take note of:
- IPO price of S$0.84 to S$0.91 per unit.
- Projected annual yield of 5.5 to 5.9 per cent, with a distribution per unit of 4.97 to 4.98 Singapore cents.
- Initial portfolio includes 3 properties:
- Shopping mall VivoCity
- office properties Bank of America Merrill Lynch, Harbourfront
- PSA Building
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