CapitaLand Commercial C-REIT (CLCR) has upsized its initial public offering (IPO) from RMB2.14bn (€256m) to RMB2.29bn in response to strong investor demand and is slated to list on the Shanghai Stock Exchange by the end of September 2025.
The sponsor, CapitaLand Investments (CLI), said cornerstone investors took up 40.11% of the units. Offline institutional investors were allotted 27.92% in the bookbuilding tranche, while the remaining 11.97% was subscribed by retail and institutional investors in the public tranche.
As joint strategic investors of CLCR, CLI, CapitaLand China Trust and CapitaLand Development will collectively hold 20% of the IPO units.
As China’s first international-sponsored retail C-REIT, CLCR will be CLI’s eighth listed fund, expanding CLI’s REIT management platform into China.
The listing of CLCR is part of CLI’s capital recycling strategy to enhance its balance sheet and redeploy capital in opportunities across China.
The trust, which is seeded with two shopping centres in China - CapitaMall SKY+ in Guangzhou and Ca;pitaMall Yuhuating in Changsha, valued at about RMB2.6bn, is focused on high-quality income-producing retail assets in top-tier cities.
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