Monday, August 18, 2008

CapitaLand's Stake In Australand Now At 64.9%

Source : The Business Times, August 18, 2008

This was the result after CapitaLand's indirect wholly-owned subsidiaries, Ausprop Holdings and Austvale Holdings, were allotted a total of 502.8 million new stapled securities in Australand under the institutional entitlement offer of a one-for-one rights issue in Australand at the issue price of A$0.60 per new stapled security.

The total subscription price of about A$302 million (S$392 million) was paid in cash, CapitaLand said in a filing to the Singapore Exchange.

The final retail entitlement offer of the rights issue is expected to complete on September 9, upon which CapitaLand will then make the appropriate announcement on its final interest in Australand and the financial impact of the rights issue on the CapitaLand group, the company said.

CapitaLand shares closed lost 23 Singapore cents - or 4.7 per cent - to close at S$4.71 on Monday.

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