The manager of CapitaLand Integrated Commercial Trust (CICT) has announced the proposed private placement of new units in CICT to raise gross proceeds of no less than $200 million on Dec 7.

A total of 103.6 million new units will be issued at an issue price between $1.93 to $1.981, with a potential upside option subject to demand. The issue price represents a discount of between 1.3% and 3.9% to the adjusted volume weighted average price of $2.00076 per unit.

JP Morgan and United Overseas Bank have been appointed joint bookrunners and underwriters for the private placement. 

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