Frasers Hospitality Trust IPO set to rake in $365m
Securities to be sold at 88 cents apiece to cornerstone and IPO investors
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.
Its sponsor Frasers Centrepoint Limited (FCL) is injecting six serviced residences into FHT; FCL's major shareholder TCC Group is injecting the other six hotels that include InterContinental Singapore and The Westin Kuala…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
P&G raises annual core profit forecast on resilient demand, price hikes
American Express beats profit estimates on strong spending by wealthy customers
Sheng Siong shareholders press for details on capital allocation, M&A opportunities
Wilmar appoints former minister George Yeo as independent non-executive director
UOB Kay Hian says ‘disadvantageous’ to reveal details of key management’s remuneration