Capitaland Retail China Trust
CapitaMall Grand Canyon is one of the pioneer shopping malls in South Beijing, and easily accessible from the Majiapu metro station and Beijing South Railway station. Capitaland Retail China Trust

CapitaLand Retail China Trust (CRCT), the first China shopping mall REIT in Singapore, on Wednesday said it has priced an upsized S$103.8 million overnight placement at the top end of the price range at S$1.612 per unit.

Price talk was at a range of S$1.553 to S$1.612 per unit for the deal, which was launched on Tuesday.

With the exercise of the Upsize Option, a total of 64,392,000 New Units will be issued, increasing the aggregate gross proceeds raised to S$103.8 million, the company said in a regulatory filing.

The placement price represents a discount of 3.5 percent to the counter's S$1.6707 volume-weighted average price on Tuesday. The counter last traded at S$1.67 on Tuesday.

The company intends to use about S$101.7 million of the proceeds to partially fund the joint acquisition of Rock Square, a property located in Guangzhou, China, with CapitaLand.

The remaining will be used to pay the estimated fees and expenses to be incurred by CRCT in connection with the placement.

The trading of the new units on the SGX-ST is expected to commence at 9.00 a.m.
on December 7.