CapitaMalls Asia’s Malaysian unit will begin trading on the main market of Bursa Malaysia Securities Friday.
CapitaMalls Malaysia Trust, CMMT, raised some 785.2 million ringgit or about S$337.5 million in its initial public offering.
It is the largest “pure-play” shopping mall reit in Malaysia by market capitalisation and property value.
Upon listing, CMMT is expected to have a market capitalisation of over 1.3 billion ringgit, with a portfolio valued at 2.1 billion ringgit.
The price for institutional and cornerstone investors was fixed at 1 ringgit per unit, while the final retail price was fixed at 98 sen per unit.
CMMT will invest, with a long-term view, in a portfolio of income-producing real estate primarily used for retail purposes and located primarily in Malaysia.
Its initial portfolio comprises three shopping malls, namely Gurney Plaza in Penang, an interest in KL’s Sungei Wang Plaza and The Mines in Selangor.
Trading of CMMT will start at 9am.
Source : Channel NewsAsia – 16 Jul 2010