Mapletree Commercial Trust, a unit of Temasek Holdings’ property arm Mapletree Investments, has offered shares worth $730.1 million through a real-estate investment trust in an IPO, The Wall Street Journal reports. In case an overallotment option is exercised, the company may raise $1.25 billion, through the IPO, which was over eight times subscribed.

Mapletree Commercial Trust sold 713 million units to institutional investors and the public. The overallotment option is 102 million units. Cornerstone investors subscribed to a total of 302 million units. Citigroup, DBS, Deutsche Bank, Goldman Sachs and CIMB handled the IPO.

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