Frasers Property: S$1.28b rights issue to build resilience

Singapore

THE main goals of Frasers Property's S$1.18-per-share rights issue, set to raise up to S$1.28 billion, are to boost its business resilience through continued exposure to industrial, logistics and business park assets, build financial agility and strengthen its balance sheet for flexibility.

The equity fundraising exercise "is really not meant to address just the free float", as "there are many other things we're looking to address", said Uten Lohachitpitaks, group chief investment officer, during a virtual briefing on Monday evening.