Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

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Equity Capital Markets

Mapletree Logistics Trust / Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/16035" target="_blank" data-smartkarma-citation="entities:16035:1">Mapletree Logistics Trust (MLT SP)</a> is raising up to S$220 million to fund the acquisition of 50% interest in 11 logistic assets in China, from its sponsor MILP. In this insight, we will look at the deal, the impact to MLT, and score the deal in our ECM Framework.</p><h2>Placement specifics</h2><ul>
<li>Company Name: Mapletree Logistics Trust</li>
<li>Ticker: MLT SP Equity</li>
<li>Primary placement &amp; Private Placement</li>
<li>The settlement is longer than normal, with stock settling on 5 June 2018</li>
<li>Indicative deal price: SGD1.17 - 1.20</li>
<li>Last Traded…</li>
</ul>

Mapletree Logistics Trust (MLT SP) is raising up to S$220 million to fund the acquisition of 50% interest in 11 logistic assets in China, from its sponsor MILP. In this insight, we will look at the deal, the impact to MLT, and score the deal in our ECM Framework.Placement specifics
Company Name: Mapletree Logistics Trust
Ticker: MLT SP Equity
Primary placement &amp; Private Placement
The settlement is longer than normal, with stock settling on 5 June 2018
Indicative deal price: SGD1.17 - 1.20
Last Traded…


MLT Placement - Little Accretion but Interesting China E-Commerce Exposure

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

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A-REIT & Venture Re-join FTSE Value-Stocks ASEAN Index Effective 21 May

December Quarter Earnings of Four Largest Industrial REITs

Real Estate, General Equities

Will Tan

Thematic (Sector/Industry)

<div class="content-highlight"><p>Towards the end of 2017, there are acquisitions signed notably i) <a href="https://www.smartkarma.com/entities/1670" target="_blank" data-smartkarma-citation="entities:1670:1">Frasers Centrepoint Ltd (FCL SP)</a>'s acquisition of a portfolio of 6 logistics cross-dock facilities in Germany for EUR247m as well as ii) <a href="https://www.smartkarma.com/entities/55" target="_blank" data-smartkarma-citation="entities:55:1">Capitaland Ltd (CAPL SP)</a> and <a href="https://www.smartkarma.com/entities/11675" target="_blank" data-smartkarma-citation="entities:11675:1">Lum Chang Holdings Ltd (LCH SP)</a> JV acquisition of German office building in Frankfurt for EUR$234.3m. These deals trail <a href="https://www.smartkarma.com/entities/2894" target="_blank" data-smartkarma-citation="entities:2894:1">Global Logistic Properties Ltd (GLP SP)</a>'s <a href="https://www.reuters.com/article/us-glp-m-a-gazelle/global-logistic-properties-buys-european-logistics-firm-for-2-8-billion-idUSKCN1C7001" target="_blank">recent acquisition of European logistics platform Gazeley for about $2.8 billion</a> and reflect market…</p></div>

Towards the end of 2017, there are acquisitions signed notably i) Frasers Centrepoint Ltd (FCL SP)'s acquisition of a portfolio of 6 logistics cross-dock facilities in Germany for EUR247m as well as ii) Capitaland Ltd (CAPL SP) and Lum Chang Holdings Ltd (LCH SP) JV acquisition of German office building in Frankfurt for EUR$234.3m. These deals trail Global Logistic Properties Ltd (GLP SP)'s recent acquisition of European logistics platform Gazeley for about $2.8 billion and reflect market…

Takeaways from FCL's Germany Logistics Portfolio Acquisition and Thoughts on S-REIT Implications

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
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Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

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<ul>
<li>
<strong>India:</strong> Q3 GDP 8.8% y/y - strongest growth since the 3Q08, Driven by 13.3% rise in private consumption, investment and government spending.</li>
<li>
<strong>Mexico:</strong> Gross fixed investment in September fell 2.6% y/y. Biggest drop in five months, as investment in machinery went down 3.3%.  This is a trend to monitor - is the strength in the US not expanding Mexico as had been expected?</li>
<li>
<strong>Malaysia:</strong> Prime Minister Najib Razak’s self-declared ‘mother of all budgets’ is loaded with vote-getting goodies ahead of ’18…</li>
</ul>



India: Q3 GDP 8.8% y/y - strongest growth since the 3Q08, Driven by 13.3% rise in private consumption, investment and government spending.

Mexico: Gross fixed investment in September fell 2.6% y/y. Biggest drop in five months, as investment in machinery went down 3.3%.  This is a trend to monitor - is the strength in the US not expanding Mexico as had been expected?

Malaysia: Prime Minister Najib Razak’s self-declared ‘mother of all budgets’ is loaded with vote-getting goodies ahead of ’18…


The US Goes Its Own Way - What Are the Implications for Economies and Markets?

Singapore

Mapletree Logistics Trust is an Asia-focused logistics real estate investment trust. The Company invests in a diversified portfolio of income-producing real estate which is used for logistics purposes.

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Mapletree Logistics Trust (MLT SP)

MLT Placement - Little Accretion but Interesting China E-Commerce Exposure

Mapletree Logistics Trust (MLT SP) is raising up to S$220 million to fund the acquisition of 50% interest in 11 logistic assets in China, from its...

Ke Yan, CFA, FRM

A-REIT & Venture Re-join FTSE Value-Stocks ASEAN Index Effective 21 May

Singapore Exchange Ltd (SGX)

December Quarter Earnings of Four Largest Industrial REITs

Singapore Exchange Ltd (SGX)

Takeaways from FCL's Germany Logistics Portfolio Acquisition and Thoughts on S-REIT Implications

Towards the end of 2017, there are acquisitions signed notably i) Frasers Centrepoint Ltd (FCL SP)'s acquisition of a portfolio of 6 logistics...

Will Tan

The US Goes Its Own Way - What Are the Implications for Economies and Markets?

India: Q3 GDP 8.8% y/y - strongest growth since the 3Q08, Driven by 13.3% rise in private consumption, investment and government...

David Riedel

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52-week Range

Market Cap (USDm)

P/E

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