Business briefing

Frasers Hospitality Trust IPO 19x subscribed

FRASERS Hospitality Trust, which will start trading on the Singapore Exchange on Monday at 2pm, has completed its initial public offering with "strong support" from retail and institutional investors, the firm said. The IPO was about 19 times subscribed, with the public offer of 45.5 million stapled securities being 13.8 times subscribed and the placement tranche of 139.6 million stapled securities being about 20.7 times subscribed.

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