The private placement of 51.5 million new units closed yesterday at the issue price of $1.612, with the upsize option of 12.9 million additional new units exercised to raise a total of $103.8 million.
SINGAPORE (Nov 30): OCBC Investment Research is maintaining its “hold” on CapitaLand Retail China Trust (CRCT) with a higher fair value of $1.63 compared to $1.61 previously, after accounting for the trust’s acquisition of Rock Square and its private placement to fund it.
To recap, CRCT had formed a joint venture (JV) with its sponsor CapitaLand to acquire the entire stake of a company that owns Rock Square, a shopping mall in Guangzhou, with the trust as a 61% majority shareholder.
