CapitaMalls Malaysia Trust (CMMT), a subsidiary of CapitaMalls Asia, is raising around 852 million ringgit (US$267 million) in its initial public offering (IPO).
The company has fixed its final price for cornerstone and institutional investors at one ringgit per share, while the final retail price is set at 98 sen per unit.
The final price for the retail offer is much lower than the previous indicative price of 1.08 ringgit per unit.
CMMT explained that retail and institutional investors purchased some 786 and a half million units in the IPO.
Lim Beng, CEO of CapitaMalls Asia, said the company is heartened by the strong interest for its retail and institutional offerings.
Despite the current market conditions, he said that the IPO is priced at one of the tightest yields for a Malaysian Reit IPO.
He added that this reflects the quality of the management team and the portfolio.
The Great Eastern Life Assurance Malaysia Berhad and the Employees Provident Fund Board of Malaysia had signed up as cornerstone investors.
CMMT will be listed on Bursa Malaysia on July 16.