In today’s briefing:
- Mapletree Revise Scheme – Give MNACT Holders Cash for NAV and a Free Option
Mapletree Revise Scheme – Give MNACT Holders Cash for NAV and a Free Option
- Quarz and MNACT holders “win” to get a Cash-Only Consideration bump to 1.0x Price/Sep2021 NAV at S$1.1949/unit. This gets them out at NAV.
- However there is a catch they want to stay invested in the assets, they have to buy MCT in the market or accept that the scrip ratio was correct.
- To fund the Cash-Only Consideration option, there will be a Preferential Offering at S$2.0039/unit, and MIPL has offered to underwrite the entire deal. MNACT holders get a free option now.
Before it’s here, it’s on Smartkarma
