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FLT to be included in GPR 250 Index Series from Sept 23
MAINBOARD-listed Frasers Logistics and Industrial Trust (FLT) will be a constituent of the GPR 250 Index Series from Sept 23, the company announced in a bourse filing on Wednesday.
Published by the Dutch firm Global Property Research, the series comprises two indices: the GPR 250 Index, representing the 250 most liquid listed property securities globally, and the GPR 250 Reit Index.
The latter is a subset of the GPR 250 Index, covering all companies having a Reit-like (real estate investment trust) structure.
To qualify for inclusion in both indices, companies must have a free float market cap of at least US$50 million and must derive at least 75 per cent of their operational turnover from property activities.
"We are pleased with the positive news of FLT's inclusion… which we envisage will further strengthen FLT's visibility and profile among global investors. We will continue to execute on our strategy to enhance value and returns for our stakeholders," said Robert Wallace, chief executive of Frasers Logistics & Industrial Asset Management, FLT's manager.
FLT will join nine other Singapore Reits represented in the index series.
Units of FLT closed at S$1.20 on Wednesday, down two cents.