In today’s briefing:
- CICT Placement – Accretive Acquisition, Should Be Favored by Existing Unitholders
CICT Placement – Accretive Acquisition, Should Be Favored by Existing Unitholders
- Capitaland Integrated Commercial Trust (CICT SP) is looking to raise around S$350m (US$267m) in its primary placement. Included in the issuance is a preferential offering to raise an additional S$757m.
- The proceeds will be geared towards acquiring a 50% interest in the ION Orchard mall from its Sponsor.
- In this note, we run the deal through our ECM framework and comment on deal dynamics.
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