Nod for proposed listing of Frasers Centrepoint

FRASER and Neave's (F&N's) move to shed its property arm and focus on its other core businesses took a step forward after Frasers Centrepoint Limited (FCL) got the go-ahead for its planned listing.

In a regulatory filing yesterday, F&N said it was granted eligibility-to-list last Friday by Singapore Exchange (SGX) for the listing and quotation of FCL on the mainboard by way of an introduction.

F&N plans to distribute two shares in FCL for each F&N share held by investors. Neither F&N nor FCL will receive cash proceeds due to the introductory nature of FCL's listing.