FCT's private placement 2.3 times subscribed, S$369.6m raised

Singapore

FRASERS Centrepoint Trust (FCT) said on Friday its private placement exercise was 2.3 times subscribed at an issue price of S$2.382 a unit - the top end of a price range of S$2.30 to S$2.382.

Closing one day after its launch on Thursday, the placement - including an upsize option that was fully taken - will result in 155.2 million new units being issued and net the retail landlord gross proceeds of about S$369.6 million.