On 17 Sep 2019, Mapletree Industrial Trust announced to raise at least $350m from private placement to fund data centre buy, via private placement of 158.3 million new units at an issue price of $2.211 to $2.265 per unit.
This is to partially fund its joint purchase of a North American data centre portfolio worth U$1.37 billion, which the trust said would cost it about $965 million.
Typically, price drops after a private placement. However, Mapletree Industrial Trust’s price jumped up 6% within the same week.
What does this mean to you?
I like data centres because their clients are very sticky. If you think so too, then hold on to it if you already have Mapletree Industrial Trust, or accumulate on dips if you’re looking to get it.
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