CapitaLand completes book-building to raise RM250mil 

PETALING JAYA: CapitaLand Malaysia Trust (CLMT) has completed its accelerated book-building exercise to raise about RM250mil in gross proceeds from a private placement of 409.8 million units at an issue price of 61 sen per unit.

According to filing with Bursa Malaysia, the issue represents a discount of about 6.9% to the five-day volume weighted average price (VWAP) of units up to and including July 22, 2025, of 65.49 sen.

Taking into account the income distribution of 2.46 sen for the period of Jan 1 to June 30, 2025, and the advanced income distribution of 0.47 sen for July 1 to Aug 6, 2025, the issue price is a discount of about 2.5% to the adjusted five-day VWAP up to and including July 22, 2025, of 62.56 sen.

CapitaLand Malaysia REIT Management Sdn Bhd said in a separate statement the private placement was “well oversubscribed, attracting strong participation from new and existing unitholders, including institutional investors and accredited investors”.

A majority of the private placement new units were allocated to long-only investors.

The proceeds will primarily be used to repay existing bank borrowings incurred for the acquisitions of nine industrial and logistics assets, including the completed acquisitions of the Valdor Logistics Hub and Glenmarie Distribution Centre.

“The placement is part of the manager’s prudent capital management strategy to optimise CLMT’s financing structure, enhance balance sheet flexibility and create additional headroom for future growth opportunities.

“The issuance of new placement units will increase the number of units in circulation, thereby enhancing CLMT’s trading liquidity,” said the REIT manager.

CLMT’s new units are expected to list on Aug 8, 2025.

For the second quarter of financial year ended June 30, 2025, CLMT’s net profit rose to RM35.07mil from RM33.47mil in the previous corresponding period, while revenue grew to RM115.73mil from RM113.65mil a year earlier.

CLMT said the increase in gross revenue was mainly due to higher revenue recorded by most of the properties within its portfolio as a result of positive rental reversions, rental step-up and the commencement of rental income recognition from Glenmarie Distribution Centre and Senai Airport City Facilities effective January and June 2025 respectively.