Frasers Property says it is ‘not aware’ of any discussions to sell company or assets

MAINBOARD-LISTED Frasers Property issued a statement on Friday (Jan 12) refuting talk of a potential sale of the company or its assets.

It was responding to recent news reports speculating that the company’s majority owners could sell the company or some of its assets, as part of a strategic review.

“The company has not been informed, and is not aware of, any discussions in relation to the proposed transactions,” said Frasers in its statement.

The Wall Street Journal had first reported on the potential sale on Jan 10. According to it, the strategic review, which is in its initial stages, was part of shareholders’ efforts to raise capital, in order to reduce the debt accumulated across the past few years from acquisitions.

However, there was no assurance of any outcome from the review, the report had added, citing people familiar with the matter.

Frasers advised shareholders to refrain from taking any action with respect to their shares in the company which may be prejudicial to their interests, and to exercise caution when dealing in the shares of the company.

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Frasers Property majority owners could sell company, assets amid review: WSJ

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Shares of Frasers Property closed at S$0.99, up S$0.04 or 4.2 per cent, on Friday, before the announcement.