An Ascendas business park property that will soon be inducted into CapitaLand Retail China Trust's portfolio.

CapitaLand Retail China Trust (CRCT) has priced the new units to be issued under a private placement, and a preferential offering at the lower end of their respective indicative ranges.

This is despite the REIT reporting strong participation from investors in the former.

CRCT is issuing the new units as part of an equity fund raising exercise (EFR) to partially pay for the acquisition of five business park properties across China, and a remaining stake in retail mall, Rock Square.

Related: CapitaLand Retail China Trust to acquire business park assets, balance stake in Rock Square

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.