CDL Hospitality Trusts raises US$109.1M to fund Moxy hotel buy
What's the deal? CDL Hospitality Trusts (CDLHT) is raising US$109.1M through an underwritten, non-renounceable preferential offering. The Singapore stapled group — a real estate investment trust and business trust holding hospitality assets — is issuing 231,413,692 new stapled securities at US$0.47 each, on a basis of 18 for every 100 existing securities.
Where's the money going? CDLHT intends to use US$106.8M, or 97.8% of gross proceeds, to partly finance the acquisition of Moxy Singapore Clarke Quay, a 475-room lifestyle hotel under a forward purchase arrangement. The remaining US$2.35M covers fees and expenses.
Who's backing it? DBS Bank and Maybank SecuritiesDealroom has a profile for this one. Try Dealroom → are joint underwriters. Singapura Developments, Hong Leong Investment Holdings, Hong Realty, and Hong Leong HoldingsDealroom has a profile for this one. Try Dealroom → have each given irrevocable undertakings supporting the offering.
Why the terms matter: The issue price is a 9.9% discount to the US$0.52 VWAP. The offering remains subject to conditions, including approval from the Singapore ExchangeDealroom has a profile for this one. Try Dealroom →.
Why now? CDLHT reported third-quarter net property income up 7.1% year on year to US$26.9M, led by its UK, New Zealand, and Australian portfolios, while Singapore softened. Gearing stood at 35.6% in September 2026, leaving roughly US$698.1M of debt headroom before a 50% threshold.
The signal: The round sits in the top tier of post-IPO equity raises in Singapore — above the 90th percentile among 150 such deals over the past four years. For a REIT with falling debt costs and room to borrow, tapping unitholders to fund the Moxy deal signals confidence in the lifestyle-hotel bet even as it dilutes existing investors.
Read more: tipranks.com
Image credit: Simon_sees
