CLCT fixes price for private placement at S$1.165 per new unit

The price is at the lower end of the price range.

CapitaLand China Trust (CLCT) has fixed the price for its private placement at S$1.165 per new unit, which is at the lower end of the price range.

The shopping mall real estate investment trust (REIT), in its bourse filing, said it also exercised in full its upsize option, bringing the total number of new units to be issued to 128,756,000.

The new number of units is expected to raise aggregate gross proceeds of approximately S$150.0 million.

Out of the gross proceeds, approximately S$146.2 million (97.5%) will be used to finance part of CLCT’s proposed acquisition of four logistics properties located in Shanghai, Kunshan, Wuhan, and Chengdu in China.

About S$3.8 million (2.5%) will be used to “pay the estimated fees and expenses, including professional fees and expenses, incurred or to be incurred by CLCT in connection with the Private Placement.”

Meanwhile, CLTC said it will use the remaining balance from its gross proceeds, if there would be any, for general corporate and/or working capital purposes.

Trading of the new units on the Singapore Exchange Securities Trading Limited (SGX-S) is expected to commence on 21 October 2021 at 9 a.m.