CapitaLand raised $2.47 billion selling shares in its CapitaMalls Asia unit in Singapore’s biggest initial public offering in at least a decade, said a person familiar with the matter. Southeast Asia’s largest real estate developer sold 1.165 billion shares in CapitaMalls at $2.12 each, the person said, asking not to be identified before a company announcement. The shares were previously offered at...
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Developer CapitaLand lodged a prospectus with the Monetary Authority of Singapore on Monday to list its retail property unit, CapitaMalls Asia. Pricing details will be released after a road-show to market the initial public offering (IPO). Reports have estimated that the listing could raise as much as S$2.8 billion. According to the reports, CapitaLand may sell about 1.2 billion shares at an indicative...
CapitaLand has gained shareholder approval for plans to list its integrated shopping mall business CapitaMalls Asia, paving the way for its listing by the end of the year. The new unit will have a portfolio of 86 retail properties valued at S$20.3 billion located across five countries in Asia. CapitaLand shareholders took time out on Friday morning for an extraordinary general meeting on the group's...
Property giant CapitaLand said on Tuesday it posted its smallest decline in net profit in a year. It said its third quarter net profit after tax and minority interests for the period ended September stood at S$281.3 million, down 33 per cent compared to the S$419.4 million earned over the same period last year. CapitaLand said the decrease was mainly attributed to lower divestment gains this year. In...
Property developer CapitaLand said on Thursday that it will hold an extraordinary general meeting or EOGM on its plan to list its shopping mall business. It is seeking approval for the proposed public offering of shares in CapitaMalls Asia. On Monday, CapitaLand announced that it is re-organising its retail unit by having CapitaMalls Asia hold its shopping mall business, including the retail real estate...
CapitaLand said on Monday its wholly-owned unit CapitaLand Retail will be listed on the SGX mainboard and be renamed CapitaMalls Asia. Following a corporate reorganisation, CapitaMalls Asia will hold CapitaLand's integrated shopping mall business, including the retail real estate fund and REIT management business. CapitaMalls Asia will have 86 malls in its portfolio, with a total property value of S$20.3...
CapitaLand said on Tuesday that its related entities have embarked on an asset swap arrangement to take full ownership of 22 retail malls in China. The firm said its sponsored funds, CapitaRetail China Development Funds, agreed to an asset swap arrangement with SZITIC Commercial Property (SCP). Under the deal, the development funds will swap their 65 per cent equity stakes in 4 projects and 50 per cent...
CapitaLand said on Tuesday 233 units were sold in the preview sales of its Interlace condominium project, which will be built on the former Gillman Heights site. The prices for the 360 units that were released for sale ranged from S$850 to S$1,150 per square foot. The developer said nearly two thirds were sold, including two, three, and four-bedroom apartments and penthouses. Located on an 872,000...
Property developer CapitaLand has channelled an additional capital of S$1 billion to its wholly owned China, Vietnam and Ascott businesses. The developer said it intends to sharpen its focus for the next phase of growth. The funds came from its recent S$1.8 billion rights issue. Out of the S$1 billion, half will be allocated to CapitaLand China Holdings, while S$299 million will be deployed to its...
Singapore property developer CapitaLand said on Thursday it slipped into the red during the second quarter with a net loss of S$156.92 million (US$108.76 million) – its first quarterly loss since 2003. This compared with a profit of S$515.2 million in the same quarter last year. CapitaLand said the June quarter loss was due to revaluations and impairment provisions the property developer took during...