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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

Vivienne Tay

Published Thu, May 16, 2019 · 09:50 PM

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.

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