Century Square, a property that will come fully under the ambit of Frasers Centrepoint Trust with its acquisition of the remaining stake in ARF. (Photo: Frasers Centrepoint Trust)

Frasers Centrepoint Trust (FCT) has reported "strong demand" for its private placement units, with the exercise being 2.8 times subscribed.

However, a close to 6% plunge in the REIT’s unit price on 29 September has raised questions over whether an impending preferential offering exercise will be met with a similar reception.

Related: Frasers Centrepoint Trust to raise up to SGD1.44 billion via placement, rights issue

The REIT undertook an equity fund raising (EFR) exercise to raise up to SGD1.44 billion for the acquisition of a remaining stake in AsiaRetail Fund.

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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.