The Sofitel Sydney Wentworth.The Sofitel Sydney Wentworth.

150 million new stapled securities in Singapore-listed Far East Hospitality Trust (FHT) (SGX:Q5T) have been issued at a price of SGD0.820 per unit on 6 July.

The securities have begun trading on the Singapore Exchange on the same day.

FHT first announced in June 2015 that it was issuing the new units which will in part be used to acquire a 75-year leasehold interest in Australian property Sofitel Sydney Wentworth.

With the issue, the total number of stapled securities in FHT now stands at 1,355,958,580 units.

Units of FHT are currently listed on the Singapore Exchange at SGD0.785.

The Sofitel Sydney Wentworth.
The Sofitel Sydney Wentworth.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.