SUBSCRIBERS
Frasers Property, FCT to raise stakes in PGIM Real Estate Asia Retail Fund
Add BT as a preferred source
Vivienne Tay
Published Thu, Mar 21, 2019 · 09:50 PM
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
FRASERS Property and Frasers Centrepoint Trust (FCT), its real estate investment trust (Reit) arm, are raising their stakes in PGIM Real Estate Asia Retail Fund, shortly after making their first round of investments, respectively.
Frasers Property is acquiring a 29.99 per cent stake in PGIM Real Estate Asia Retail Fund for around S$601.5 million, the group said in a bourse filing on Thursday before the market opened. Its wholly owned subsidiary, Frasers Property Investments (Bermuda), will be acquiring 158,145 shares in the open-end fund, raising its stake to around 47.82 per cent.
Copyright SPH Media. All rights reserved.
