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Alliance Global Properties sold stake in Mapletree Logistics Trust
Jul 11, 2012
by Cheryl Tay The shares of Mapletree Logistics Trust, a company that owns logistics and warehouse assets in Asia, plunged by up to 4.5 percent to a one-month low after a unitholder sold its stake in a block trade. Alliance Global Properties sold off its 139.3 million shares or 5.7 percent stake in Mapletree Logistics for S$0.96 per unit in a block trade, with Citigroup as the sole bookrunner. By 0110 GMT, Mapletree's units dropped four percent at S$0.965, with more than 143.2 million shares changing hands, or 62.3 times its daily average for the last five sessions.