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CapitaRetail China Trust (CRCT)
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IceMountain
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18-Nov-2020 09:47
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Big fishes already scoop up from the $245Million worth of private placement. now is only small fish like us moving it
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GreenTrap
Veteran |
18-Nov-2020 09:06
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Big fishes scooping up | ||||
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Starship
Supreme |
17-Nov-2020 18:43
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CapitaLand Retail China Trust to raise at least S$300m for acquisition TUE, NOV 17, 2020 - 10:56 AM CAPITALAND Retail China Trust (CRCT) on Tuesday launched an equity fundraising to finance part of its proposed purchase of interests in business parks and a Guangzhou mall. The private placement' s indicative issue price range is S$1.193 to S$1.236 per new unit. That represents a discount of about 3.4-6.8 per cent to CRCT' s closing price of S$1.28 on Monday. Also, it is at a 4.1-7.5 per cent discount to the volume-weighted average price (VWAP) of S$1.2891 per unit of all trades on Monday. Meanwhile, the preferential offering will carry an issue price between S$1.17 and S$1.21 per new unit, which is at a 5.5-8.6 per cent discount to Monday' s close and a 6.1-9.2 per cent discount to the VWAP. CRCT aims to raise gross proceeds of no less than S$300 million, or about S$325 million if an upsize option is exercised for the placement. The private placement of 184.4 million new units to institutional and other investors will raise gross proceeds of at least S$220 million. If upsized to issue up to an additional 21 million new units, it will raise another S$25 million. The pro rata and non-renounceable preferential offering of up to 69 million new units to eligible unitholders will raise about S$80 million. The record date is Nov 25 at 5pm. CRCT' s manager, in its own capacity, and Retail Crown, both wholly-owned subsidiaries of CRCT' s sponsor CapitaLand, have each irrevocably undertaken to take up their entire provisional allotments of units under the preferential offering. These allotments correspond to their direct interests in CRCT - the manager has a 6.31 per cent stake while Retail Crown owns 19.09 per cent. Also, Retail Crown will subscribe for additional preferential-offering units in excess of the pro rata units, amounting to CapitaLand Integrated Commercial Trust' s (CICT) total provisional allotment that corresponds to CICT' s direct 10.82 per cent stake in CRCT. Retail Crown will only apply for excess units based on the balance amount of CICT pro rata units that are unsubscribed by CICT' s trustee. Earlier this month, CRCT said it was looking to buy interests in five business park properties in Suzhou, Xian and Hangzhou as well as the remaining 49 per cent stake in the Rock Square mall, at an agreed property value of about 4.95 billion yuan (S$1.01 billion). The trust plans to acquire 51 per cent of the Ascendas Xinsu portfolio, the entire interest in Ascendas Innovation Towers, 80 per cent of Ascendas Innovation Hub, as well as 80 per cent of phases one and two of the Singapore-Hangzhou Science and Technology Park. Net proceeds from the equity fundraising will partially finance the total acquisition cost of about S$822.4 million, the manager said on Tuesday. If the gross proceeds amount to about S$300.7 million - assuming the placement and offering are priced at the lower ends, and the placement is not upsized - some S$293.9 million will go into partially financing the proposed acquisition, while S$6.8 million will be used to pay the estimated fees and expenses. Any balance of the gross proceeds will be used for general corporate and/or working capital purposes. The joint global coordinators and bookrunners for the equity fundraising are Citigroup Global Markets Singapore, DBS and HSBC' s Singapore branch. https://www.businesstimes.com.sg/companies-markets/capitaland-retail-china-trust-to-raise-at-least-s300m-for-acquisition |
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pkli899
Supreme |
17-Nov-2020 16:58
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Yes, is a balancing act. If lower price means more units need to be issued. Usually higher issue price is indication of good response. As a result, price will not fall that much upon starting of trading of new units.
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Farmer
Master |
17-Nov-2020 16:51
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Price need to be attractive to shareholders else it will be a non event for small holders consider that ratio. $1.17 will be lower than pte placement price.
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pkli899
Supreme |
17-Nov-2020 16:42
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1.17 is lowest of the range. Wonder placement is at what price? From the price can gauge the response.....like not so fantastic.
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Farmer
Master |
17-Nov-2020 16:31
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Pte share placement already takeout the buck of the $300m needed for this exercise That leave ~$70M for preference share placement with share outstanding of 1.23B..... I guess ratio maybe 20:1 @$1.17 ps? |
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pkli899
Supreme |
17-Nov-2020 16:16
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Yes, 1.17 but ratio not known yet. | ||||
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ysh2006
Supreme |
17-Nov-2020 15:38
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Right issue at $1.17 only... | ||||
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marketuncle
Veteran |
17-Nov-2020 13:40
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Use SGX app monitor company developments via alerts, or use google alerts functions to track news or related business developments. By the time its covered by the news or analyst reports, the price will have moved. https://www.theedgesingapore.com/news/reits/capitaland-retail-china-trust-raise-300-mil-through-equity-fund-raising |
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pkli899
Supreme |
17-Nov-2020 10:34
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Go SGX.com can read all the announcement mah. If vested best to read up on latest development. This way will help u to act timely, if required. Make it a point, first thing in the morning before trading starts, read up the night before and early morning announcement. |
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Zachiel
Senior |
17-Nov-2020 09:40
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Sorry bad link earlier Try this https://www.sgx.com/securities/equities/AU8U Go under company announcement, got a few
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tangoanna
Master |
17-Nov-2020 09:37
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Lol. It is announcement regarding equity fund raising and capital distributions/ dividend.
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Zachiel
Senior |
17-Nov-2020 09:36
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https://www.sgx.com/securities/company-announcements?type=securitycode& value=AU8U | ||||
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moron101
Supreme |
17-Nov-2020 09:26
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Merge with CICT?
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lennyk
Member |
17-Nov-2020 09:22
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Anyone knows the reason for the halt ? | ||||
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bobdog
Veteran |
17-Nov-2020 09:03
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Simi dai ji
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bystander1965
Supreme |
17-Nov-2020 07:54
Yells: "What I say is just my assessment. DYODD" |
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Halt. Come earlier than I thought. | ||||
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tangoanna
Master |
16-Nov-2020 20:21
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Dow futures jump 500 points as Moderna says it has a highly effective Covid vaccine as well | ||||
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Observers
Elite |
16-Nov-2020 19:52
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i smell a change of name coming. | ||||
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