CapitaLand subsidiary subscribes to 116mn rights shares in Central China Real Estate

CapitaLand maintains hold of 27.11% of total shares in CCRE comprising a total of 658mn shares of HK$0.01 each.

The wholly-owned subsidiary CapitaLand Limited (“CapitaLand”), CapitaLand LF (Cayman) Holdings Co. Ltd. has subscribed and been allotted its full entitlement of 116,010,603 rights shares at an issue price of HK$1.71 (approximately S$0.27) per rights share in Central China Real Estate Limited (“CCRE”)’s rights issue (the “Rights Issue”) for a cash consideration of HK$198.38 million (approximately S$31.5 million).

CCRE, an investment holding company incorporated in the Cayman Islands, is listed on the Hong Kong Stock Exchange (“HKSE”). It is principally engaged in real estate development and sales in Henan Province, the People’s Republic of China, according to a CapitaLand report.

Following the aforesaid allotment, CapitaLand’s interest in CCRE remains unchanged at 27.11% comprising a total of 658,116,228 shares of HK$0.01 each in CCRE.

The Rights Issue is completed. Dealings in the fully-paid rights shares of CCRE on HKSE are expected to commence from 9:00 a.m. on 30 June 2011.