CAPITALAND Retail Limited, owned by Southeast Asia’s largest developer CapitaLand, has won approval from the Singapore Exchange to list its shares on the stock market, its parent company said on Monday.
CapitaLand Retail Limited will be renamed CapitaMalls Asia Limited.
‘In conjunction with the proposed listing of CapitaMalls Asia, CapitaLand is considering a public offering of part of its shareholding interest in CapitaMalls Asia,’ CapitaLand said in a statement.
PROPERTY developer CapitaLand unveiled ambitious plans on Monday to list its retail arm, reflecting its confidence in Asia’s growing shopping mall business.
The firm said at a briefing it has won approval from the Singapore Exchange (SGX) to list the shares of CapitaLand Retail, which will now be renamed CapitalMalls Asia (CMA). The decision to hive off its retail arm will allow the group to accelerate the growth of its integrated shopping mall business, which will have direct access to capital markets to expand, said chief executive officer Liew Mun Leong. Continue reading
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