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.
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