capitaretail-reit-completes-132-million-placement

CapitaRetail Reit completes $132 million placement

Existing investors take the bulk of the fixed-price deal which marks the first equity follow-on by an Asian company this year.

By Anette Jönsson

January 27, 2008

Singapore-listed CapitaRetail China Trust has successfully completed a S$188 million $132 million follow-on share offering that will be used to pay for the earlier announced acquisition of Xizhimen Mall in Beijing.

The mall will be bought from an incubator fund owned by CapitaLand, which is also the main sponsor of CapitaRetail, and will be the trustÆs first acquisition since its IPO in November 2006.

The timing of the fixed-price deal û the S$185 million institutional portion was done on Friday, followed by a S$3 million retail offering on Saturday û raised a few eyebrows among market watchers. Not only are the equity markets extremely volatile and jittery at the moment, but Capita...

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