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

Frasers Centrepoint Trust (FCT) has priced the placement units it is issuing under a recently announced equity fundraising exercise at SGD2.18.

This mid-point pricing suggests that the REIT's fundraising exercise failed to garner the rambunctious support that some investors were expecting.

FCT is a Singapore-focused retail REIT that owns a portfolio of well-connected suburban retail malls across Singapore, most of which have direct and sheltered access to public transportation nodes.

One of these assets is NEX, and the REIT presently holds a 25.5% stake in the seven-storey shopping mall.

The REIT earlier disclosed on 25 January that it was increasing its stake in NEX, and would be raising fresh funds via a private placement to partially finance the acquisition.

Related: Frasers Centrepoint Trust to raise SGD200 million, increases stake in NEX

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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.