Waterway Point, of which a stake is being acquired by Frasers Centrepoint Trust. (Photo: REITsWeek)

Singapore-listed retail REIT, Frasers Centrepoint Trust, will be issuing 28,818,174 new units in the preferential offering exercise that what first announced in mid-May 2019.

The preferential offering has since been set on a basis of 31 for every 1,000 existing units in FCT held as at 5.00 pm on 27 May 2019.

The units are being issued by the REIT as part of efforts to raise some SGD437.4 million for the acquisitions of stakes in Waterway Point, and a PGIM Real Estate Asia Retail Fund.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.