CapitaLand Selling 20% Stake In Australand


News: Singapore-based property company CapitaLand is selling around 20% of its stake in Australian residential and commercial property developer Australand Property Group for up to AUD433.7mn (US$408mn). CapitaLand, which owns a 59% interest in Australand, is selling 115.7mn shares at AUD3.69 (US$3.47) to AUD3.75 (US$3.53) each. Citigroup is handling the stake sale through an accelerated book-build process, with shares scheduled to be priced and allocated on November 21.

This article is tagged to:
Sector: Real Estate
Geography: Singapore, Australia