capitamall-sees-good-response-for-postacquisition-followon-offer

CapitaMall sees good response for post-acquisition follow-on offer

Raffles City acquisition will diversify revenue base and bring the REIT closer to its total asset targets.
CapitaMall Trust, SingaporeÆs largest real estate investment trust by assets, last night completed the first leg of a follow-on unit sale that will allow it to raise a combined S$413.6 million $262 million.

The placement - which will account for up to 95.2% of the total targeted amount - saw strong demand from investors who were keen to tap into the REIT following its S$877.7 million $556 million high profile and yield accretive acquisition of a 40% stake in Raffle City. The price was fixed at S$2.30 - close to the top end of the S$2.23 to S$2.32 indicated range, according to a source familiar with the transaction.

Given that there was virtually...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222