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Highly commended Asian deal of the year 2013: Mapletree Greater China Commercial Trust

Mapletree Greater China Commercial Trust $1.7 billion Reit IPO
Bookrunners Citi, DBC, Goldman Sachs, HSBC
return to the Deals of the Year 2013 index

When it launched in March, this was the largest equity sale of the year, popping healthily on its first day.

Mapletree was the first commercial Reit with assets in both Hong Kong and China, and its initial portfolio comprises Festival Walk, a landmark retail mall with an office component in Kowloon Tong, Hong Kong; and Gateway Plaza, an office building with a retail atrium in Beijing.

Mapletree’s investment mandate includes Hong Kong and China’s top-tier cities: Beijing, Shanghai, Guangzhou and Shenzen.

The deal was the largest ever Reit IPO in Singapore as well as the largest IPO in Singapore in 2013. It attracted strong demand from 11 global investors in the cornerstone tranche, who covered 55% of the deal.

The placement tranche was 38 times covered, with more than 350 accounts participating. The IPO priced at the top end of the book-building price range and the public offer was almost nine times subscribed with total applications amounting to S$1.8

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