The market is now more convinced that Capitaland’s planned restructuring will go through after independent financial adviser (IFA) Evercore Asia gave the green light. It advised Capitaland’s independent directors to recommend shareholders vote for the restructuring plan that is “fair and reasonable” from a financial point of view.
In March 2021, one of Singapore’s largest property developer announced a massive restructure to privatise its capital-intensive property development arm, and become a pure real estate investment manager under a new listed entity named CapitaLand Investment Management (CLIM).
CLIM will house its fund management business, lodging management business and real estate investments, with SGD 115 billion of assets under management.
Each shareholder will receive around SGD 4.102 each in stock and cash if they say aye to the plan. CapitaLand was trading up over 1% at SGD 3.85 at the time of this report.
Research analysts have been fans of the restructuring that unlocks shareholder value.
Shareholders can let their voices be heard on 10 August EGM 2021.
CapitaLand will be delisted and CLIM will start trading on 17 September if the deal goes through.
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