Chief executive officer of CapitaMall Asia Ltd Lim Beng Chee said he was happy with the opening price because the retail investors were getting it at 98 sen while the opening price was 98.5 sen.
"This is just the day one pricing and they (CapitaMall Asia) has actually proven themselves to deliver with their active asset management," he told reporters after the listing ceremony today.
Lim said the company would start its RM2 billion asset development project within one year, based on the market situation.
He said retail investors were expected to get distribution yields of 7.2 per cent for the forecast period of 2010 and 7.6 per cent for 2011.
CMMT's initial public offering comprises 786.522 million units, of which 67.5 million were for retail investors (at 98 sen per unit) and the rest for institutional investors (at RM1 per unit).
CMMT is managed by CapitaMalls Malaysia REIT Management Sdn Bhd, a joint-venture between CapitaMalls Asia, which is one of Asia's largest shopping malls developers, and Malaysian Industrial Development Finance Bhd.