(Updates with trading halt in third paragraph.)
Oct. 31 (Bloomberg) -- CapitaMall Trust, Singapore’s biggest retail property trust, is raising S$250 million ($200 million) by selling new shares, according to a person with knowledge of the matter.
The company plans to price the shares at S$1.79 to S$1.85, and has an option to increase the size of the offering by S$50 million, the person said, declining to be named before a public announcement.
CapitaMall Trust halted its shares from trading in Singapore earlier today. The stock slipped 0.8 percent to S$1.875 before the suspension. Lim Seng Jin, a spokesman for CapitaMall Trust, couldn’t immediately be reached to comment on the offering.
The company plans to use the proceeds for investing in shopping malls in Singapore, the person said. JPMorgan Chase & Co. is arranging the offering.
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