FCT to buy a third of Waterway Point from Frasers Property for S$440.6m
It is launching an equity funding exercise; S$245.3m of the proceeds will partly finance the acquisition
Singapore
FRASERS Centrepoint Trust (FCT) is looking to acquire a one-third interest in Waterway Point, a large suburban mall located in Punggol, from its sponsor Frasers Property in a S$440.6 million deal.
At the same time, FCT is launching an equity fund-raising exercise; S$245.3 million of the total proceeds from that will go towards partly financing the acquisition, it announced on Thursday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
OpenAI inks licensing deal with People magazine publisher
Apple unveils new AI-focused chip in upgraded iPad Pro models
DBS CEO Piyush Gupta sells S$2.7 million worth of bank shares
Disney's surprise streaming entertainment profit offset by weaker TV business
Geely, Foretellix partner to jump-start self driving car development
US: Wall Street opens slightly higher on rate cut optimism