CapitaLand raises $1.78 billion from CapitaMalls Asia spin-off

The developer and operator of Asian shopping malls prices its IPO below the mid-point, but increases the institutional tranche slightly in response to good demand.

CapitaMalls Asia CMA, the shopping mall business being spun off from Singapore property developer CapitaLand, has priced its initial public offering below the mid-point at S$2.12 per share for a total deal size of S$2.47 billion $1.78 billion. The shares were offered in a range between S$1.98 and S$2.39.

The demand from institutions was strong enough at the final price that the bookrunners decided to reallocate shares from the retail tranche to satisfy a few additional...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Print Edition

FinanceAsia Print Edition