Singapore-headquartered Mapletree Logistics Trust indicated that it plans to acquire 17 logistics properties across China, Japan, and Vietnam for a combined deal value of about SGD1.4bn ($1.03bn).
“The pandemic has highlighted the importance of logistics and placed a greater emphasis on supply chain resiliency, fuelling demand for modern logistics space,” said Ng Kiat, chief executive of Mapletree Logistics Trust Management.
Of the total 17 logistics facilities that it plans to acquire, 13 are located in China and will cost SGD870m, Mapletree Logistics Trust said. Three properties located in Vietnam and one facility located in Japan will cost SGD129.9m and SGD416.3m, respectively.
The firm has shared its plans to finance the proposed acquisitions through a balanced mix of equity and debt.
On Tuesday, stocks of Mapletree Logistics Trust went into a trading halt while the market awaited the announcement of a capital raising plan.
The firm later announced plans to raise SGD700m, through a private placement and a preferential offering, to finance the acquisitions.
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