Singapore REIT IPO Gets Cornerstone Interest

Singapore REIT IPO Gets Cornerstone Interest: Singapore property developer Mapletree Investments secured commitm...

By P.R. VENKAT And CHUN HAN WONG SINGAPORE--Mapletree Investments Pte. has secured commitments for more than half of the 1.5 billion Singapore dollars ($1.2 billion) it plans to raise by listing a China-focused real-estate investment trust, people with knowledge of the deal said, paving the way for what would be the city-state's largest initial public offering in two years. Cornerstone investors have so far agreed to invest nearly S$800 million in the Mapletree Greater China Commercial Trust, the people said Wednesday. Roadshows are likely to start Feb. 18, they said, with the listing planned for early March. Cornerstone investors generally commit to holding large stakes for a set time period, demonstrating their confidence in the shares and comforting other investors who may fear that the shares will decline after the listing. The IPO would be Singapore's largest since Hu...

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