F&N plans further $607m payout via capital reduction
Move will not result in cancellation of shares, says group
TO streamline its capital structure after it spins off its property arm, conglomerate Fraser and Neave (F&N) is proposing to return $607 million to shareholders, or 42 cents a share.
The latest capital reduction exercise will not result in a cancellation or change in the number of shares F&N has, which will be 1.445 billion after the spinoff.
F&N is expected to complete its spin-off of Frasers Centrepoint Limited (FCL) next month, where existing F&N shareholders will get two FCL shares per F&N share held.
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