Category Archives: Developers

CapitaLand’s Mall-nopoly

Posted on 6 Oct 2009 | Comments Off on CapitaLand’s Mall-nopoly

IN A big, bold and innovative move, CapitaLand, South-east Asia’s largest property developer is cashing in on its malls by listing its wholly-owned subsidiary, CapitaLand Retail, on the Singapore bourse.

CapitaLand Retail will be renamed CapitaMalls Asia (CMA) and will be one of Asia’s largest “pure play” shopping mall business with a geographic span hardly matched by any other developer.

The move will not only be good for CapitaLand shareholders who are being told that any excess cash from the public offering could be returned to them via a special dividend, but also to the potential investors of CMA.

These investors will be able to participate in an entity that will have an interest in, as well as manage a Pan-Asian portfolio of shopping malls with a total value of $20.3 billion, comprising 86 retail properties across 48 cities in five Asian countries. Continue reading →

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Posted in Developers, Office / Retail / Industrial

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Is a $1.5b IPO on the cards?

Posted on 6 Oct 2009 | Comments Off on Is a $1.5b IPO on the cards?

Property giant CapitaLand is reorganising its retail properties by moving the assets to a new business unit, CapitaMalls Asia, and plans to float the unit on the Singapore Exchange.

After the reorganisation, CapitaLand Retail which manages the group’s shopping malls, will be renamed CapitaMalls Asia. CapitaLand’s retail real estate fund and real estate investment trust management businesses under CapitaMall Trust and CapitaRetail China Trust will also be transferred to the new entity. As a result, CapitaMalls Asia will have a portfolio of 86 retail properties worth $20.3 billion across five countries: Singapore, China, Malaysia, Japan and India, the developer said.

CapitaLand said yesterday at a press briefing that it has not decided on the timing or pricing of the initial public offering. The group’s chief financial officer Olivier Lim said at the briefing that the group would be “comfortable” with floating about 20 to 30 per cent of the total shareholdings. For example, a 30-per-cent share sale would raise about $1.57 billion if the shares were priced at book value, and gives CapitaMalls Asia a market capitalisation of $5.23 billion. Continue reading →

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Posted in Developers

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