Allen & Gledhill and Paul Hastings are advising on the $1.3 billion Singapore initial public offering of a state-owned real estate investment trust.
Issuer Mapletree Greater China Commercial Trust REIT, is a China- and Hong Kong-focused unit of Mapletree Investments Pte., the property arm of Singapore sovereign wealth fund Temasek Holdings Pte. Properties held by Mapletree Greater China Commercial Trust include Beijing’s Gateway Plaza office and retail complex and the Festival Walk mall in Hong Kong.
Cornerstone investors in the IPO include AIA Group Ltd., Morgan Stanley, and CBRE Group Inc. Mapletree Greater China Commercial Trust is planning to use the funds raised to pay for acquisitions as well as for working capital.
Allen & Gledhill partners Jerry Koh, Chua Bor Jern, and Teh Hoe Yue are advising the issuer on Singapore law, while Paul Hastings partner Vivian Lam is serving as Hong Kong counsel. Shanghai’s Jin Mao Partners has been engaged for matters of Chinese law.
WongPartnership managing partner Rachel Eng and partner Long Chee Shan are acting as Singapore counsel to underwriters Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd., Goldman Sachs (Singapore) Pte., and The Hong Kong and Shanghai Banking Corp. Ltd. Allen & Overy Singapore partners Yin Mei Lock and Kenny Kwan are advising the banks on U.S. law, with Fangda Partners acting as Chinese counsel.
Email: tbrennan@alm.com.
