Mainboard-listed CapitaMalls Asia said it has established a S$2 billion Euro-Medium Term Note Programme which will be unconditionally guaranteed by the company. Net proceeds from the issuance will be used to refinance existing borrowings, to fund investments and for general working capital. CMA said under the programme, it may issue notes in series or tranches in Singapore dollars, US dollars, Euro or...
CapitaMalls Asia
CapitaMalls Asia has replaced Cosco Corp as a constituent stock of the STI. The change comes after the latest half-yearly review of the index. Meanwhile, the STI reserve list of the five highest ranking non-constituents of the index by market capitalisation are now, Keppel Land, Yangzijiang Shipbuilding, Ascendas Real Estate Investment Trust, Yanlord Land, and Parkway Holdings. These firms will be...
CapitaMall Trust (CMT) has acquired riverfront development Clarke Quay from sister company CapitaMalls Asia for S$268 million. CMT said it has sufficient financial flexibility and capacity to fund the transaction, which is targeted for completion by July 2010. Assuming the transaction is fully funded by debt, CMT's gearing would be 33.1 per cent - still within its target range of 30 to 35 per cent. CMT...
CapitaMalls Asia has agreed to buy the Meili Mall in Chengdu for about S$95 million. The seller is Chengdu Vanke Property. Including fitting out works, CapitaMalls Asia's estimated total expenditure on the mall is S$106.9 million. The mall is part of a mixed-use development, comprising retail and residential components. It is currently being developed by Chengdu Vanke Property and expected to be...
CapitaMalls Asia's net profit in 2009 jumped 235 per cent on-year to S$388 million. In its maiden full-year results since listing last November, CapitaMalls Asia said the boost to the bottom line came mainly from its China market. It also said it may benefit from the recent moves by the Chinese government to tighten credit. Consumer spending in Asia has remained robust despite the economic downturn,...
Mainboard-listed CapitaMall Trust (CMT) said its current chief executive officer, Lim Beng Chee, will relinquish his position with the company to focus on his new role as CEO of newly-listed CapitaMalls Asia. However, Mr Lim will continue as a director and a member of the Executive Committee of CapitaMall Trust. Current Deputy CEO Simon Ho will assume the top position, while head of Investment and Asset...
Shares of CapitaMalls Asia made their much-anticipated debut on the Singapore Exchange on Wednesday. The counter closed at S$2.30 - up 8.5 percent over its IPO price - against expectations for a 10 percent jump. The listing was the largest in Singapore in 16 years. The IPO was 1.7 times oversubscribed, with the institutional portion garnering about 2.5 bids for every available share. Liew Mun Leong,...
The IPO by CapitaMalls Asia saw strong demand, with the retail tranche over-subscribed by 3.9 times, and the institutional tranche was over-subscribed by 1.5 times. At S$2.8 billion, the IPO is Singapore's largest in 16 years. CapitaMalls Asia will make its debut on the Singapore Exchange on Wednesday. And if the IPO subscription rates are anything to go by, it looks set to make a splash. Market...
Singapore's CapitaLand will raise US$1.8 billion ($2.47 billion) through the IPO of its shopping malls unit, playing it safe on the pricing after some Asian IPOs faltered recently due to valuation concerns. CapitaMalls Asia's IPO has been priced at $2.12 a share, according to an issue prospectus, below the midpoint of an indicative range of $1.98-$2.39 a share. The conservative pricing is aimed at...
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...