CapitaMall Trust says S$1.23b rights issue oversubscribed

CapitaMall Trust said its S$1.23 billion rights issue has been oversubscribed.

The offer closed on Thursday, and final results will be released soon.

CapitaMall Trust, a unit of CapitaLand, said last month that it would offer nine rights for every 10 existing units at 82 cents each.

It said a major portion of the proceeds would be used to repay borrowings of S$956 million due this year.

Source : Channel NewsAsia – 26 Mar 2009

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