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Mapletree Commercial Trust (MCT), the fourth real estate investment trust (REIT) by Mapletree Investments, is poised to relaunch its S$1 billion initial public offering (IPO) in Singapore, according to some sources.
The trust is expected to carry the VivoCity mall under its portfolio, with other assets possibly including the PSA Building, Mapletree Business City and Merrill Lynch HarbourFront.
According to Reuter’s earlier indication, the trust was undergoing a pre-marketing exercise ahead of the listing, with an indicative yield of between 5.2 and 5.8 percent.
Last month, MCT postponed the lodgement of its prospectus due to the dull trading debut of Hutchison Port Holdings Trust and the volatile market conditions triggered by the March 11 Japan disasters.
Mapletree Investments first listed Mapletree Logistics Trust in 2005 and launched Lippo-Mapletree Indonesia Retail Trust with Lippo Group in 2007.
The property group also listed Mapletree Industrial Trust in October last year and raised nearly S$1 billion.
Many analysts expect MCT to remain attractive to a large numbers of investors, as yield-plays continue to dominate in the region.
Investment bankers also believe that despite the volatility of the markets, IPOs issued by big companies will likely retain their appeal with investors.