Frasers Centrepoint calls for trading halt on news of possible Reit listing

FRASERS Centrepoint Limited (FCL) is calling for a trading halt "with immediate effect" pending an announcement, it said at 9.32am on Monday morning.

This followed a Business Times article on Monday which said that work is underway for FCL to spin off some of its Australian logistics and industrial assets into a real estate investment trust (Reit).

The Reit could be worth S$800-900 million, and the listing on the Singapore Exchange (SGX) could be slated for June this year, barring unforeseen circumstances.

The new Reit will likely be called Frasers Logistics and Industrial Trust (FLT). A special feature of FLT is that investors can choose to receive their distributions in Australian dollars or Singapore dollars.