CapitaLand India Trust lists new units

Preferential offering results amounted to 159.33 million new units.

CapitaLand India Trust (CLINT) has listed 141.57 million new units on the main board of the SGX-ST starting 9 AM this 18 July.

The new units were issued under its preferential offering that closed on 10 July.

Valid acceptances and excess applications for the pro-rata and non-renounceable preferential offering of new units amounted to 159.33 million new units. This represents approximately 112.6% of the total number of new units vailable under the preferential offering. 

Previously announced CLINT said it is issuing over 141.56 million new units at an issue price of S$1.06 per new unit, to raise gross proceeds of approximately S$150.1m which was set out last 30 June.

The total number of new units consists of 138,803,912 New Units to be issued and listed on the Main Counter of CLINT (New Main Counter Units); and 2,763,585 new units nits to be issued and listed on the 'A' Counter of CLINT (New Counter 'A' Units).

The New Main Counter Units to be issued will have the same rights and privileges as all existing units of CLINT, including the entitlement to receive CLINT's distributable income from 1 January to 30 June and all distributions thereafter.

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On the other hand, the New Counter 'A' Units will be listed separately on the 'A' Counter, distinct from the Main Counter of CLINT. 

Similar to the previously issued 11 May units, the New Counter 'A' Units will only be entitled to receive distributions for the period from 11 May (the issuance date of the 11 May units) to 30 June, as well as all distributions thereafter. 

The 'A' Counter will be operational from 11 May until the record date for the distribution of CLINT's Units related to the distribution period ending 30 June 2023, after which the Units listed on both the 'A' Counter and the Main Counter of CLINT will be combined and traded under the Main Counter of CLINT. 

Aside from this arrangement, the New Counter 'A' Units to be issued will have equal status in all aspects with the existing Units listed on the Main Counter of CLINT.