Frasers Hospitality Trust IPO set to rake in $365m
Securities to be sold at 88 cents apiece to cornerstone and IPO investors
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FRASERS Hospitality Trust (FHT) is slated to raise $365.2 million from its initial public offering (IPO) and from cornerstone investors.
Its offer price of 88 cents translates into a yield of 7 per cent for the projection year from October 2014, said its prospectus lodged yesterday.
FHT is selling 182 million stapled securities in its IPO at 88 cents apiece. This will consist of a placement tranche of 136.6 million stapled securities and a public tranche of 45.5 million stapled securities.
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