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Frasers Hospitality Trust IPO set to rake in $365m

Securities to be sold at 88 cents apiece to cornerstone and IPO investors

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 Lumpur - PHOTO: SPH

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....