The listing is expected by Q4 and will raise about 2.1 billion yuan through the issuance of 400 million units
[SINGAPORE] CapitaLand Commercial C-Reit (CLCR) has received approval from the China Securities Regulatory Commission to register for its listing on the Shanghai Stock Exchange.
The listing is expected to take place by the fourth quarter of 2025, and will raise about 2.1 billion yuan (S$375 million) through the issuance of 400 million units, said its parent CapitaLand Investment (CLI) on Wednesday (Aug 27).
Describing it as a “significant milestone”, CLI said that CLCR will be its eighth listed fund and become China’s first international-sponsored retail China real estate investment trust (C-Reit) upon listing.
CLI said the listing aligns with its domestic-for-domestic fund strategy to tap onshore capital and grow its funds under management and recurring fee income.
CLCR will invest in operating retail assets in China, benefitting from the country’s policies to stimulate domestic consumption.
Two properties will make up the initial portfolio: CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha. The two have a combined floor space of 168,405 square metres and an overall occupancy rate of 96 per cent as at Mar 31.
Both are in the CapitaLand Group’s portfolio, with the Guangzhou property jointly held by CLI and the group’s privately held development arm, CapitaLand Development. The Changsha mall is owned by CapitaLand China Trust.
Collectively, CLI, CapitaLand China Trust and CapitaLand Development will hold at least 20 per cent of CLCR.
As the sponsor and asset manager of CLCR, CLI will continue to operate CapitaMall SKY+ and CapitaMall Yuhuating post-listing, it said.
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