CapitaLand Commercial C-REIT (CLCR) has achieved a significant milestone by raising approximately RMB 2.29 billion (USD 322 million) through its initial public offering (IPO) on the Shanghai Stock Exchange. The offering comprised 400 million units priced at RMB 5.718 each, surpassing the initial target by 7%.
The IPO witnessed unprecedented investor interest:
Institutional Investors: The offline tranche was oversubscribed by 254.5 times, marking the highest subscription rate among retail C-REITs in China.
Retail Investors: The public tranche closed ahead of schedule, with subscriptions oversubscribed by 535.2 times, indicating strong retail demand.
CLCR's initial portfolio includes two prime retail properties:
CapitaMall SKY+ in Guangzhou
CapitaMall Yuhuating in Changsha
These malls collectively span 168,405 square meters with a combined value of approximately RMB 2.6 billion, boasting a 96% occupancy rate as of March 2025.
CapitaLand Investment (CLI), CapitaLand China Trust (CLCT), and CapitaLand Development (CLD): Jointly hold 20% of the IPO units.
Cornerstone Investors: Secured 40.11% of the units.
Institutional Investors: Allocated 27.92%.
Public Investors: Received 11.97% of the units.
This IPO positions CLCR as China's first internationally sponsored retail REIT, aligning with CapitaLand Investment's strategy to leverage onshore capital markets to expand assets under management and enhance recurring fee income.
Trading for CLCR is set to commence on the Shanghai Stock Exchange under ticker 508091 by the end of September 2025.
This is an AI-powered article, curated by The Financial Coconut.
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