Corporate digest

Frasers Commercial Trust

FRASERS Commercial Trust on Thursday launched a private placement to partially finance its acquisition of a Melbourne office building, 357 Collins Street. The placement consists of 84 million new units at an issue price range of S$1.46 to S$1.48 per new unit. Depending on market conditions, the manager may in its discretion decide to increase the size of the placement by up to 12 million new units at the issue price to pay down existing debt as well as for general working capital purposes. Assuming a price of S$1.48 and a full upsize placement, gross proceeds will be about S$142.1 million.

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