CapitaLand India Trust Spends 30% of Private Placement Proceeds

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CapitaLand India Trust Spends 30% of Private Placement Proceeds

MT Newswires07-29 11:49

CapitaLand India Trust (SGX:CY6U) has used SG$45.6 million, representing 30.4% of the gross proceeds of the private placement conducted earlier this year, according to a Wednesday filing to the Singapore stock exchange.

Of the SG$100 million earmarked to part fund the ongoing development and construction as part of its acquisition of Building 1 of Ebisu in Bangalore, India, the manager used SG$37.3 million.

The company also used SG$5.7 million of the SG$47.4 million allotted to part fund the ongoing development and construction of and acquisition of an office project in Bangalore from Maia Estates Offices.

It also used SG$2.6 million to pay all the fees and expenses tied to the private placement.

The company's shares were up nearly 2% in recent trade.

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