CapitaLand Integrated Commercial Trust Upsizes Private Placement to Raise SG$500 Million

CapitaLand Integrated Commercial Trust has upsized its private placement to raise around SGD500 million, up from the previously announced SGD300 million. The trust will acquire a 45% stake in the office and ancillary retail component of CapitaSpring from CapitaLand Group Pte. Ltd.

CapitaLand Integrated Commercial Trust (CICT) has announced an upsized private placement to raise approximately SGD 500 million, up from the previously announced SGD 300 million. The trust will acquire a 45% stake in the office and ancillary retail component of CapitaSpring from CapitaLand Group Pte. Ltd. [1]

The acquisition, valued at SGD 482.3 million, will increase CICT's Singapore exposure from approximately 94% to 95% of its portfolio property value. The transaction is expected to lift the trust's distribution per unit (DPU) by 1.1% on a pro forma basis, assuming CICT had held and operated 100% of CapitaSpring from January to June 2025 [1].

The private placement will be priced between SGD 2.105 and SGD 2.142 per new unit, with gross proceeds estimated to be around SGD 600 million. The funds will be used to repay and refinance debt, capital expenditure, and asset enhancement initiatives, as well as to finance the remaining 55% interest in CapitaSpring [2].

The transaction is expected to be completed in the third quarter of 2025. CICT has entered into a unit purchase agreement to acquire the 45% stake from CapitaLand Group Pte. Ltd. and an additional 10% stake from MEA Commercial Holdings Pte. Ltd. [2]

The trading of the new units is expected to commence on August 14, 2025, at 9 am. CICT's manager has lifted the trading halt put in place on Tuesday morning [3].

References:
[1] Reuters. (2025, August 5). Singapore's CapitaLand Integrated to buy remaining stake in CapitaSpring. Retrieved from https://www.reuters.com/en/singapores-capitaland-integrated-acquire-remaining-stake-capitaspring-2025-08-05/
[2] Marketscreener. (2025, August 5). CapitaLand Integrated Commercial Trust enters into a unit purchase agreement to acquire 45% stake in Office and Ancillary Retail Component of CapitaSpring. Retrieved from https://www.marketscreener.com/news/capitaland-integrated-commercial-trust-entered-into-a-unit-purchase-agreement-to-acquire-45-stake-i-ce7c5edbdc8cf220
[3] Business Times. (2025, August 6). CapitaLand Integrated Commercial Trust raising S$600 million through private placement. Retrieved from https://www.businesstimes.com.sg/companies-markets/capitaland-integrated-commercial-trust-raising-s600-million-private-placement