CapitaLand Retail China Trust’s preferential offering of 86.87 million new units received valid acceptances and excess applications for around 139 percent of the total on offer, the REIT’s manager said in a filing to SGX Wednesday.
The offering was on the basis of 87 preferential units for every 1,000 existing units held as of 13 August at S$1.44 each, CRCT said.
Gross proceeds from the offering will be around S$125.1 million, which combined with the around S$154.3 million raised from a private placement, comes to around S$279.4 million, the filing said.
The preferential offering new units are expected to be listed on SGX on 3 September, CRCT said.
CRCT has said it plans to use the proceeds to partially finance the proposed acquisition of CapitaMall Xuefu, CapitaMall Aidemengdun and CapitaMall Yuhuating.
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