The manager of CapitaLand Integrated Commercial Trust C38U (CICT) says the REIT has received valid acceptances and excess applications for a total of 492,535,540 preferential offering units, as at the close of the preferential offering on Sept 24.
Valid acceptances and excess applications stood at 309,500,558 and 183,034,982 preferential offering units, or 82% and 48.5% respectively.
According to the manager, the balance of 67,803,416 preferential offering units which were not validly accepted or not taken up is set to be allotted to satisfy applications for excess preferential offering units.
In the allotment of excess preferential offering units, preference will be given to the rounding of odd lots.
The manager, directors of the manager and substantial unitholders who have control or influence over CICT or the manager in connection with the day-to-day affairs of CICT or the manager or the terms of the preferential offering, or have representation (direct or through a nominee) on the board of directors are expected to rank last in priority for the rounding of odd lots and allotment of excess preferential offering units.
The manager adds that a total of 377,303,974 preferential offering units will be issued at the issue price of $2.007 per preferential offering unit to raise gross proceeds of approximately $757.2 million.
See also: Changes in ICR, leverage to come into effect immediately, with additional disclosures in March
Together with the gross proceeds of approximately $350.3 million raised from the REIT’s private placement, gross proceeds of a total of approximately $1.1 billion have since been raised from the REIT’s equity fund raising.
CICT’s preferential offering units are expected to be listed and quoted on the mainboard of the SGX-ST with effect from 9.00 a.m. on Oct 2.
Units in CICT closed 4 cents higher, or up 1.90%, at $2.14 on Sept 26.
