SINGAPORE (Aug 2): The manager of CapitaLand Retail China Trust (CRCT) has proposed an equity fund raising to raise gross proceeds of between $273.4 million to $279.4 million.
The manager intends to use the gross proceeds from the equity fund raising to foot part of the $505.4 million bill for its proposed acquisition of three malls in China from sponsor CapitaLand.
First, CRCT will put up some 105 million new units in a private placement at an issue price of between $1.428 and $1.469. This will raise gross proceeds of approximately between $150.0 million and $154.3 million.
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