FCL debut confirms F&N's conglomerate discount
Demerged property group closes at $1.485 after starting out at $1.61
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FRASERS Centrepoint (FCL) has proven that the old Fraser and Neave (F&N) had indeed been trading under a conglomerate discount, as the demerged real estate group made its listing debut yesterday.
FCL opened at $1.61 but gradually slipped over the day to head out at $1.485.
The company was listed by way of introduction following an in-specie distribution of two FCL shares for each F&N share held.
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