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

Frasers Centrepoint Trust (FCT) will raise some SGD1,327.3 million (USD950 million) from an equity fund raising (EFR) exercise.

A mandate to conduct the EFR was obtained at an extraordinary general meeting (EGM) on 28 September.

Funds raised from the EFR will be largely deployed towards the acquisition of the remaining stake in AsiaRetail Fund.

Related: Frasers Centrepoint Trust acquires remaining stake in AsiaRetail Fund for SGD1 billion

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By Shariffa Al-Habshee

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