CapitaMalls Asia (CMA) has received approval to list its Malaysian property assets on the Malaysian exchange, Bursa Malaysia.
CapitaMalls Malaysia Trust (CMMT) will be the holding entity of its Malaysia-based shopping malls, with some 1.35 billion CMMT units expected to be listed.
An expected 786.5 million units will be offered for sale, with CMA retaining a 41.74 per cent in CMMT.
A book-building exercise started on Friday. CMA said the final prices of the units under the institutional offering and the retail portion will be determined after the book-building exercise.
CMMT’s initial portfolio will contain three malls – the Gurney Plaza in Penang, a stake in the Sungei Wang Plaza in Kuala Lumpur and The Mines in Selangor.
CMMT had said earlier this month it plans to list its Malaysian malls business as a real estate investment trust on the Malaysian exchange in an offering that could raise about one billion ringgit.
Source : Channel NewsAsia – 25 Jun 2010