PROPERTY developer CapitaLand's latest unit to list, CapitaMalls Asia (CMA), has attracted huge interest in its initial public offering (IPO) - with the public tranche nearly five times subscribed.

Once the process is completed, it is set to raise $2.8 billion, making the integrated shopping mall business unit the largest IPO here in 16 years.

CapitaLand said yesterday that shareholders may be in for a special dividend.

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