New units issue in Aquamarine Star Trust to raise S$442.7m

Singapore

THE trustee-manager of Aquamarine Star Trust (AST) is raising S$442.7 million from the issue of new units to a long-term strategic investor, said Frasers Property Limited, the parent company of the trustee-manager.

The issue by Frasers Property Aquamarine Trustee will be such that the new investor and FCL Aquamarine, which currently owns 100 per cent of the existing units in issue in AST, will each hold half of the units in issue upon the closing of the transaction.