CapitaMall Trust
(Constituted in the Republic of Singapore pursuant to a trust deed dated October 29, 2001)
OFFER FOR SUBSCRIPTION (THE "OFFERING") BY
CAPITAMALL TRUST MANAGEMENT LIMITED (THE "MANAGER")
IN RESPECT OF 213,000,000 UNITS ("NEW UNITS") REPRESENTING UNDIVIDED INTERESTS IN CAPITAMALL TRUST ("UNITS") COMPRISING:
I. AN INSTITUTIONAL OFFERING (THE "INSTITUTIONAL OFFERING") OF NEW UNITS; AND
II. A PUBLIC OFFERING (THE "PUBLIC OFFERING") OF NEW UNITS, OF WHICH 21,300,000 NEW UNITS (THE "RESERVED UNITS") WILL BE RESERVED FOR SUBSCRIPTION BY THE DIRECTORS AND EMPLOYEES OF CAPITALAND LIMITED AND ITS SUBSIDIARIES (THE "CAPITALAND GROUP") AND THE EMPLOYEES OF SINGAPORE TECHNOLOGIES PTE LTD AND ITS SUBSIDIARIES (THE "ST GROUP"),
SUBJECT TO AN OVER-ALLOTMENT OPTION OF UP TO 31,950,000 UNITS.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE FOR SECURITIES.
ISSUE PRICE
The Offering closed at 11.00 a.m. on July 11, 2002.
The issue price of the Units under the Offering (the "Issue Price") has been fixed at S$0.96 per Unit.
APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED
At the close of the Application List at 11.00 a.m. on July 11, 2002, applications pursuant to the Public Offering and indications of interest pursuant to the Institutional Offering were received for a total of 1,068,711,000 Units (including applications for 10,899,000 Reserved Units) which represent approximately 5.0 times the 213,000,000 New Units available for subscription.
Demand from retail investors (including indications of interest from retail investors applying through institutions and brokerage firms) amounted to approximately 415.7 million Units representing approximately 39% of the total demand. Institutional investors therefore accounted for approximately 61% of the total demand.
ALLOCATION BETWEEN THE INSTITUTIONAL OFFERING AND THE PUBLIC OFFERING
Taking into consideration the total number of Units applied for and the indications of interest received, and to ensure a reasonable spread of Unitholders, the Underwriter intends to over-allot an additional 31,950,000 Units. As a result, the Underwriter has decided, in consultation with the Manager, that an aggregate of 244,950,000 Units will be allocated to be sold as follows:
- 204,051,000 Units pursuant to the Institutional Offering; and
- 40,899,000 Units pursuant to the Public Offering, including 10,899,000 Reserved Units which will be allocated for subscription by the directors and employees of the CapitaLand Group and the employees of the ST Group.
Allocations under the Institutional Offering will include allocations of approximately 105 million Units to individual retail investors applying through institutions, such as private banking customers of those institutions, and individuals applying through brokerage firms.
The basis of allotment of Units under the Public Offering will be announced via MASNET on July 12, 2002.
OVER-ALLOTMENT OPTION
The Underwriter has been granted an over-allotment option by Pyramex Investments Pte Ltd, exercisable in full or in part within 30 days after the commencement of trading in the Units on the SGX-ST, to purchase up to an aggregate of 31,950,000 Units at the Issue Price, solely to cover over-allotment of Units. An announcement will be made if and when the said over-allotment option is exercised.
Issued by
The Development Bank of Singapore Ltd
For and on behalf of
CapitaMall Trust Management Limited
11 July 2002
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