Frasers Centrepoint Trust to raise up to S$1.39b to buy rest of AsiaRetail Fund

Singapore

FRASERS Centrepoint Trust (FCT) is proposing to raise up to S$1.39 billion in equity through a private placement and/or a preferential offering, to fund its acquisition of the remaining 63.1 per cent of AsiaRetail Fund (ARF) for S$1.06 billion from its sponsor Frasers Property.

ARF owns five retail malls in Singapore - Tiong Bahru Plaza, White Sands, Hougang Mall, Century Square and Tampines 1 - as well as the Central Plaza office property.