CapitaMalls Asia (CMA) said it has received approval to list its Malaysia property assets on the Malaysian exchange – Bursa Malaysia.
CapitaMalls Malaysia Trust (CMMT) will be the holding entity of CMA’s Malaysia-based shopping malls, with almost 1.35 billion CMMT units expected to be listed.
Around 786.5 million units will be up for sale, with CMA retaining a 41.74-percent in CMMT.
CMA said the final price units under the retail portion and institutional offering will be announced when the book-building exercise is completed.
The initial portfolio of CMMT contains three malls – The Mines in Selangor, the Gurney Plaza in Penang and a stake in the Sungei Wang Plaza in Kuala Lumpur.
CMMT had announced earlier that it plans to list its Malaysian malls business as a real estate investment trust (REIT) on Bursa Malaysia in an offering that could raise nearly one billion ringgit.