CapitaLand’s rights issue 1.22 times oversubscribed

CapitaLand said its S$1.84 billion rights issue was 1.22 times oversubscribed.

Southeast Asia’s largest property developer first announced the fundraising exercise last month. It offered one rights share for every two existing shares at S$1.30 each.

CapitaLand said its major shareholder Temasek Holdings took up its entire 40 per cent allotment of the rights shares.

The rights shares are expected to be listed on or around March 23.

In trade on Tuesday, CapitaLand shares fell 4 per cent to S$2.07.

Source : Channel NewsAsia – 17 Mar 2009

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