CapitaLand rights issue oversubscribed

Temasek takes up its 39.7% entitlement, but CapitaLand completes the deal without calling on underwriters. Meanwhile, Shinhan sets the price for its rights issue at a 25% discount.

Singapore real estate developer CapitaLand said on Friday that its S$1.84 billion $1.2 billion rights issue has been oversubscribed based on initial calculations, making it the second Singapore-listed company this year to successfully replenish its equity capital without having to rely on underwriters for support.

The news shows that minority shareholders are willing to increase their exposure at a decent discount to the market price and should be encouraging for other companies that are either already raising money through...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition


  • Green Bonds Southeast Asia

    25 May 2017  |  Singapore
    With Green Bonds globally reaching USD200 billion outstanding in 2016, from as little as 30bn just 4 years ago, can SE Asia corporations and ...
  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...