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CapitaMalls Malaysia sells up to US$68.2 million in new shares

Wednesday, June 24, 2015 - 20:05

[KUALA LUMPUR] CapitaMalls Malaysia Trust, a Malaysia-based shopping mall real estate investment trust (Reit), is selling up to 190.8 million new units worth up to US$68.2 million in a bookbuilding process on Wednesday, according to a term sheet seen by Reuters.

The Reit, with a market value of 2.44 billion ringgit (S$871.26 million), is selling the units at between 1.31 ringgit and 1.34 ringgit per unit, according to the term sheet. That is 2.2-4.4 per cent lower than its closing price of 1.37 ringgit per unit on Wednesday.

The proceeds will be used to part finance the acquisition of Tropicana City Mall and Tropicana City Office Tower in the state of Selangor, the sheet showed.

CIMB Investment Bank is the joint bookrunner of the deal, the sheet showed.

REUTERS

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