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CLMT To Acquire Queensbay Mall In Penang For RM990.50 Million (US$210 Million)

Nov 9, 2022 – CapitaLand Malaysia REIT Management Sdn. Bhd. (CMRM), the manager of CapitaLand Malaysia Trust (CLMT), announced the acquisition of 91.8% of the total strata floor area of retail parcels in Queensbay Mall from its sponsor for RM990.50 million.

The acquisition will be financed via a private placement, which entails the issuance of new CLMT units to raise gross proceeds of up to 50% of the total purchase consideration. The issue price of the proposed private placement will be determined later by way of a bookbuilding process.