Stock News: CapitaLand to raise 320 mln sgd from China REIT listing

CapitaLand, Southeast Asia's largest property developer, is hoping to raise 320 mln sgd in a China-based real estate investment trust (REIT) listing before the end of this year, the South China Morning Post reported, citing market sources. The Singapore company will package six or seven commercial properties in China with a net asset value of about 800 mln sgd, the Hong Kong newspaper said. In Tianjin, the company owns the Exchange, which has a net rentable area of 376,600 square feet, and the Huiteng Metropolis in Xiamen, at 698,250 sq ft.