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CapitaLand trims CapitaMalls Asia offer price to account for dividend

Published on Apr 28, 2014 10:04 AM

SINGAPORE - CapitaLand has reduced its offer price for CapitaMalls Asia (CMA) to take into account the dividend recently declared by CMA.

The Singapore property developer will now pay $2.2025 per offer share, down from the $2.22 it originally offered when it announced its takeover bid on April 14.

This comes after CMA shareholders earlier this month approved a final dividend of 1.75 cents per share for the 2013 financial year. May 5 is the book closing date at which the register of CMA shareholders will be closed to determine entitlements to the 2013 final dividend.

As such, CMA shareholders as at May 5 who accept CapitaLand's offer will receive the dividend of 1.75 cents per share from CMA, and $2.2025 per share from Capitaland, to make a total of $2.22 per share.

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