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.
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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