CapitaRetail’s offering fully taken up - Singapore
SINGAPORE - CapitaRetail China Trust, which owns malls in China, said on Saturday its offering of 138.2 million new units at $1.36 apiece had been fully taken up, despite volatile and soft market conditions.
The company said the gross proceeds of $188 million (US$132 million) raised from the private placement and retail offering would be used to pay for the Xizhimen Mall in Beijing.
The issue price is nearly 10 per cent lower than the stock’s last traded price of S$1.51.
Based on the issue price of S$1.36 apiece, unitholders can expect a distribution per unit of 6.67 cents for the forecast financial year ending December 2008, above the forecast of 6.41 cents generated by its existing portfolio of properties in the current year.
The new units will start trading on the Singapore Exchange on Feb 5.
Shares of CapitaRetail China were suspended from trading on Friday and will resume trade on Monday morning.
Citigroup, DBS Bank and JP Morgan are managers and underwriters for the issue. — REUTERS
Source : Channel NewsAsia - 27 Jan 2008
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