FCOT raises S$142.1m from upsized private placement

Singapore

FRASERS Commercial Trust (FCOT), which owns commercial property in Singapore and Australia, said on Friday that it has raised gross proceeds of S$142.1 million from an upsized private placement.

The trust manager also said in a press release that it intends to declare an "advanced distribution" of its distributable income for the period July 1-Aug 2 this year to its existing unitholders. It estimated the advanced distribution to be 0.7805 Singapore cent per unit.