CapitaLand Malaysia Trust (CLMT) will be buying Queensbay Mall in Penang, Malaysia, from its sponsor CapitaLand Investment (CLI), for RM990.5 million:
CLMT’s acquisition will be financed by the issuance of new CLMT units to raise gross proceeds of up to 50 per cent of the total purchase consideration. The issue price of this proposed private placement will be determined later via a bookbuilding process.
CLI, as CLMT’s sponsor, intends to take up its pro-rata entitlement in the private placement. As at Nov 3, 2022, CLI had a deemed interest of approximately 39.3 per cent in CLMT.