The manager of CapitaLand China Trust (CLCT), along with joint global coordinators and bookrunners, DBS Bank, JP Morgan (SEA), The Hongkong and Shanghai Banking Corporation (HSBC) have closed the books of orders for the private placement on Oct 12.
The issue price per new unit has been determined at $1.165 per unit. The upsize option was exercised in full.
See: CapitaLand China Trust's current share price post market correction is an opportunity to buy the dip: DBS
As such, a total of 128.75 million new units will be issued to raise gross proceeds of around $150.0 million.
The private placement was said to be oversubscribed and “saw good participation” from investors.
Of the total proceeds, some $146.2 million will go to financing part of the proposed acquisition of the logistics properties in China.
The remaining sum will be used to pay the estimated fees and expenses incurred by the private placement.
The trading of the new units is expected to commence at 9am on Oct 21.
Units in CLCT closed flat at $1.25 on Oct 12.
