JD.com’s warehouse spinoff is raising a bit less capital than its sponsors had hoped for.
In today’s roundup of regional news headlines, JD Logistics is reportedly set to price its Hong Kong IPO near the bottom of the target range, South Korean investors are readying a lawsuit over a Las Vegas construction loan turned sour, and Mapletree Industrial Trust’s private placement is subscribed 3.1 times over.
China’s JD Logistics Prices IPO Near Bottom of the Range
The logistics arm of Chinese e-commerce giant JD.com is set to price its Hong Kong initial public offering at HK$40.36 ($5.20), near the bottom of the range, a person with knowledge of the matter told CNBC.
JD Logistics previously said its IPO on the Hong Kong stock exchange would be priced between HK$39.36 and HK$43.36. Read more>>
Korean LPs to Sue Mirae, NH Over Las Vegas Loan Loss
South Korean institutional investors in the Drew Las Vegas development are preparing to file a lawsuit against two domestic brokerage firms, seeking compensation for the loss of their entire investment of KRW 300 billion ($265 million) in the long-stalled project.
In 2019, Mirae Asset Securities and NH Investment & Securities underwrote the junior mezzanine tranche of KRW 300 billion to fund the construction on the Las Vegas Strip, and sold it down to domestic institutional and retail investors. Read more>>
Mapletree Industrial Trust Private Placement 3.1 Times Subscribed
Mapletree Industrial Trust’s private placement of 190.3 million new units was fixed at the top end of the price range and was around 3.1 times covered, the trust’s manager said Friday.
Most of the proceeds raised with this private placement, as well as a preferential offering, will be used to partly finance MIT’s planned $1.32 billion acquisition of 29 US data centres announced Thursday. Read more>>
Keppel Land Prices S$280M of 2% Notes Due in 2026
Keppel Land, a wholly owned subsidiary of Keppel Corporation, has priced S$280 million ($210.5 million) of 2 percent notes due in 2026, issued under its $3 billion multi-currency medium-term note programme.
The notes will be issued at a price of 100 percent of the principal amount and in denominations of S$250,000, with interest of 2 percent, payable semi-annually in arrear. Read more>>
Hong Kong’s MTR to Look Into Subsidised Housing Along New Lines
Hong Kong mass transit operator MTR Corporation said it would look into providing subsidised housing along two proposed railway lines, if approached by the government.
The company is also a major property developer and landlord in the city and is listed on the Hong Kong stock exchange. It was responding to a question last week by Legislative Council member Regina Ip, who asked the government if it would discuss the allocation of at least half of residential units along the MTR’s proposed Tuen Mun South Extension and Northern Link lines for sale as Home Ownership Scheme flats. Read more>>
Floor in Singapore’s Samsung Hub Sells at Record Price
The ninth floor of Samsung Hub is being transacted for nearly S$53.1 million ($39.9 million) or S$4,050 per square foot on a strata area of 13,110 square feet (1,218 square metres).
This is a record price per square foot for an office floor in the 999-year leasehold building in the Raffles Place financial district, surpassing the previous record of S$3,800 per square foot in February 2020 for the 11th floor. Read more>>
Shenzhen’s Higher Mortgage Rates Won’t Deter Homebuyers
The recent mortgage rate increases of major banks in Shenzhen should have a limited immediate impact on the market, according to buyers and real estate agents.
The hikes are bearable, potential housing purchasers in the southeastern tech hub told Yicai Global. They result in small increases when divided into monthly payments over the next 30 years, they said. Read more>>
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