Mapletree offers juicy yield but banks face worse IPO allocation headache with issuer in charge

The IPO of Mapletree Greater China Commercial Trust is heading for a blow-out after just the first few days of bookbuilding, with one banker describing the deal as having the momentum of a freight train. That means an allocation nightmare awaits when books close next Monday — and for bankers working on the deal it will be worse than usual, as Mapletree will be making the decisions, write Mark Baker and Matthew Thomas.