Report
Zhen Zhou Toh
EUR 93.06 For Business Accounts Only

MLT Placement - Similar to its October 2020 deal which struggled to perform

Mapletree Logistics Trust (MLT SP) plans to raise around US$530 (S$723m) to partially fund the acquisition of logistics properties in China, Vietnam and Japan.

We have earlier covered the previous five placements for the REIT since 2017:

Mapletree Logistics Trust Placement: A DPU Accretive Deal
MLT Placement - Little Accretion but Interesting China E-Commerce Exposure
MLT Placement - DPU Accretive & Stable Property Income Anchored by CWT
Mapletree Logistics Placement - Little Accretion but past Deals Have Done Well
Mapletree Logistics Placement - Big Deal, Little Accretion but past Deals Have Done Well

Most of the past deals have done well except for the October 2020 one. This deal is similar to the October placement in terms of the size of the private placement and its relatively small accretion.
Underlying
Mapletree Logistics Trust

Provider
Aequitas Research
Aequitas Research

Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m. 

Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
 
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
 
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.

Analysts
Zhen Zhou Toh

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