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FHT privatisation offers value for FHT’s securities holders but not shareholders of Frasers Property

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Leslie Yee

Leslie Yee

Published Wed, Sep 7, 2022 · 05:50 AM
    • FHT owns 14 assets, including the Intercontinental Hotel Singapore (pictured). Its operations face headwinds from an economic slowdown and currency fluctuations.
    • FHT owns 14 assets, including the Intercontinental Hotel Singapore (pictured). Its operations face headwinds from an economic slowdown and currency fluctuations. PHOTO: FRASERS PROPERTY

    INVESTORS looking for plays on international travel may soon find themselves with one fewer option on the Singapore Exchange.

    On Sep 12, stapled securities holders of Frasers Hospitality Trust (FHT) will meet at an extraordinary general meeting to decide whether to approve the proposed privatisation of FHT via a scheme of arrangement.

    The deal is a good one for FHT unitholders as the offeror, which is a wholly-owned subsidiary of Frasers Property Limited (FPL), is paying more than book value. FHT unitholders will receive S$0.70 in cash for each FHT stapled security that FPL and TCC Group Investments do not already hold.

    Hock Lock Siewfrasers propertyfrasers hospitality trustPrivatisationS-ReitsProperty developers

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