CapitaLand Retail China Trust (SGX:AU8U) (CRCT) announced on Tuesday morning that it is undertaking a private placement as well as a non-renounceable preferential offering to raise gross proceeds of up to S$300 million.
CRCT will be offering 184.41 million new units under the Private Placement to eligible institutional, accredited and other investors to raise gross proceeds of no less than approximately S$220.0 million. The offer can be upsized with another 20.956 million new units for an additional S$25 million.
The issue price of S$1.193 to S$1.236 represents a discount of between 3.4% to 6.8% to the closing price of S$1.2800 per unit of all trades traded on Singapore Exchange Securities Trading Limited (SGX-ST) on 16 November 2020, the day before the Underwriting Agreement was signed. This also represents a discount of approximately 4.1% to 7.5% to the volume weighted average price (VWAP) of S$1.2891 per unit of all trades on SGX-ST on 16 November.
Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd. and The Hongkong and