F&N plans further $607m payout via capital reduction
Move will not result in cancellation of shares, says group
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TO streamline its capital structure after it spins off its property arm, conglomerate Fraser and Neave (F&N) is proposing to return $607 million to shareholders, or 42 cents a share.
The latest capital reduction exercise will not result in a cancellation or change in the number of shares F&N has, which will be 1.445 billion after the spinoff.
F&N is expected to complete its spin-off of Frasers Centrepoint Limited (FCL) next month, where existing F&N shareholders will get two FCL shares per F&N share held.
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