CapitaMalls Malaysia raises $106 million from placement

CapitaMalls Malaysia Trust CMMT on Friday became the first Asian company in three months to raise new equity capital from a placement, offering yet another sign that market sentiment might be recovering.

Encouragingly, the real estate investment trust Reit, which focuses on retail properties in Malaysia, was also able to price the deal at the top end of the offering range for a total deal size of M$330 million $106 million.

Even so, the offering might not act as a trigger for other issuers to follow suit as the circumstances are somewhat special. Most importantly, the proceeds will be used to fund a M$330...