PROPERTY developer CapitaLand's latest unit to list, CapitaMalls Asia, has attracted strong interest for its initial public offering.CapitaLand said on Tuesday in a statement to SGX that its public offer of 95 million offering shares at $2.12 per share was 4.9 times subscribed.It raised $988.5 million from 44,507 valid applications at the close of the public offer at noon on Monday and will begin trading on Wednesday.All of its 11.6 million reserved shares were applied for by the directors, management, employees and business associates of the CapitaLand Group, including CapitaMalls Asia and its units.About $24.7 million was received for the reserved shares, the firm said.Upon completion of the IPO and assuming the full exercise of the over-allotment option, CapitaLand's shareholding interest in CapitaMalls Asia will be reduced from 100 per cent to 65.5 per cent, and the IPO would have raised approximately S$2.8 billion, said the firm.

Source: http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_458538.html