CRCT announces results of preferential offering
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Nisha Ramchandani
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IN an update on its preferential offering, CapitaLand Retail China Trust (CRCT) said that it had received valid acceptances and excess applications for a total of 133.77 million preferential offering units at the close of the offering.
This represents about 194 per cent of the total number of preferential offering units available.
The balance 18.29 million preferential offering units which were not validly accepted will be allotted to satisfy applications for excess new units, said CRCT, with preference given to the rounding of odd lots.
A total of 68.99 million units will be issued at S$1.17 to raise some S$80.7 million. They were offered on the basis of 56 preferential offering units for every 1,000 existing units held.
Post-completion, Retail Crown and CapitaLand Retail China Trust Management - which are wholly owned subsidiaries of CapitaLand - will collectively own about 21.9 per cent of the total number of 1.5 billion units in issue after the listing and quotation of the units.
The units will be listed and quoted on the mainboard from 9am on Dec 16.
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Units in CRCT closed at S$1.30 on Thursday, up two Singapore cents or 1.56 per cent.
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