Capitaland Ltd, Southeast Asia's biggest developer, is pricing a trust that owns seven malls in China at the high end of the range after investor interest exceeded the shares available.

The Singapore developer will sell 193.3 million shares of CapitaRetail China Trust at S$1.13 (73 US cents) apiece, the top end of a range that started at 95 Singapore cents.

CapitaLand is tapping an expected surge in retail demand in China. The developer has set up funds to hold other properties in China, where they will be improved before being sold to the trust.

"This pipeline of assets could potentially triple the size of the initial portfolio and increase CapitaRetail's presence to more than 24 cities in China," Liew Mun Leong, chief executive officer of CapitaLand, said in the statement.

Source:佚名