singapores-first-china-reit-ready-to-hit-the-market

Singapore's first China Reit ready to hit the market

The CapitaLand-sponsored Reit will hold seven shopping malls with a total asset value of S$690 million and is expected to raise about $150 million.
CapitaLand has received a conditional approval to list its long-awaited real-estate investment trust Reit with China-based retail assets on the Singapore stock exchange and, according to sources, will start pre-marketing of the vehicle today.

The listing vehicle, which will go under the name of CapitaRetail China Trust, will have a total asset value of about S$690 million $440 million and will initially comprise seven retail malls located in Beijing, Shanghai and three other Mainland cities, according to a stock exchange announcement yesterday.

CapitaRetail will be the first Reit with China-based assets listed in Singapore and only the second in Asia after GZI Reit which has been listed in Hong Kong since December...
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