Singapore

FRASERS Centrepoint Limited (FCL) on Tuesday said it will hold an extraordinary general meeting on Nov 12 to seek shareholders' approval on two counts. The first is to obtain their retroactive approval of the company's acquisition of Australand Property Group. The second is to get approval for an interested person transaction.

This transaction will have TCC Prosperity Limited subscribing for up to 50 per cent of the issue size or S$300 million, whichever is lower, of the proposed offering of perpetual capital securities by FCL's wholly owned subsidiary, FCL Treasury Pte Ltd. It follows TCC Prosperity's participation as lead anchor investor in the launch of FCL's first subordinated perpetual capital securities in September 2014.