CapitaRetail China Trust is planning to sell S$280 million worth of new units to fund the purchase of a shopping mall in Beijing. It is seeking to sell 112 million new units at S$2.50 each. The offer will be open to both existing unit holders and new investors.
The proceeds will be used to help pay for the purchase of Xizhimen Mall in the Chinese capital.
In addition, the trust will take on S$88 million in borrowings for the purchase.
The acquisition is valued at S$344 million.
CapitaRetail Retail China Trust is calling for a unit holders' meeting on December 4 to vote on the new issue. - CNA /ls
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