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MARKETS & INVESTING, RETAIL | Staff Reporter, Singapore
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CapitaLand Retail China Trust to raise $279.4m in latest funding exercise

It will be used to fund the purchase of three shopping malls.

CapitaLand Retail China Trust (CRCT) is expected to top estimated gross proceeds for its latest funding exercise to raise $279.4m from 19.1 million units issued, an announcement revealed.

Also read: CapitaLand Retail China Trust NPI up 7.3% to $40.36m

The company has already raised $154.3m through a private placement that was three times subscribed, with 105 million units issued priced at $1.469 per unit.

Meanwhile, the preferential offering is projected to add another $125.1m and issue about 86.9 million units at $1.440 apiece.

The proceeds will reportedly be used to fund CRCT’s purchase of three shopping malls from CapitaLand.

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