CICT private placement subscribed 3.7 times
It issued the units at $2.040 a piece.
CapitaLand Integrated Commercial Trust's (CICT) private placement was subscribed 3.7 times, drawing strong demand from "new and existing institutional, accredited and other investors."
In a bourse filing, CICT said it would issue the 171.7 million private placement units at an issue price of $2.040.
It expects to raise $350.3m from private placement unit issuance.
As part of its equity fundraising, CICT will also issue 377.3 million preferential offering units to eligible unitholders, offering 56 units for each 1,000 existing units.
It will issue the preferential offering units at $2.007 apiece.
The private placement and preferential offering will raise $1.1b for CICT.
CICT will use the proceeds to finance an acquisition, repay or refinance debt and/or capital expenditure, asset enhancement initiatives, and pay estimated fees and expenses incurred from the fundraising.
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