CapitaLand Retail China Trust on Thursday said it got approval from the Singapore Exchange (SGX) to list new units from its upsized S$103.8 million private placement at S$1.612 apiece.
The placement price of S$1.612 per unit represents a discount of about 3.5 percent to the counter's volume weighted average price of S$1.6707 per unit on November 28, it said in a regulatory filing.
The company will issue about 64.4 million new units, bringing the total number of units in CapitaLand Retail China Trust to 966.2 million units.
The new units will commence trading on the main board of SGX at 9.00 a.m. on Thursday.
The placement will raise gross proceeds of nearly S$103.8 million, out of which about S$101.7 million will be used to help fund a joint acquisition of Rock Square mall in Guangzhou, China. The remaining S$2.1 million will be used to pay placement-related expenses.
The China-based mall real estate investment trust said it believes the private placement is an overall efficient and beneficial method of raising funds to finance the partial funding of the Rock Square mall acquisition.
DBS Bank is the sole bookrunner and underwriter for the private placement.
Shares in CapitaLand Retail China Trust rose 1.3 percent to S$1.59 on the Singapore Exchange. The stock has gained 25 percent in an year.