The Business Times
business-time-50
HOCK LOCK SIEW

FHT’s failed privatisation not a complete surprise as unitholders bet on tourism recovery

Jude Chan

Jude Chan

Published Thu, Sep 15, 2022 · 05:50 AM
    • Intercontinental Hotel Singapore is one of the 12 properties in FHT's initial IPO portfolio.
    • Intercontinental Hotel Singapore is one of the 12 properties in FHT's initial IPO portfolio. PHOTO : FRASERS PROPERTY

    THE failed attempt by Frasers Hospitality Trust (FHT) to go private came as a surprise to some market observers.

    Opposition to the cash offering of S$0.70 per stapled security – at a 7 per cent premium to net asset value (NAV) – by sponsor Frasers Property (FPL) was generally muted.

    After all, the privatisation offer seemed generous enough – given the hospitality-focused real estate investment trust (Reit) had traded at an average discount of 19 per cent to its NAV since its initial public offering (IPO) in 2014.

    Hock Lock SiewS-Reitsfrasers hospitality trustfrasers propertyPrivatisation

    TRENDING NOW

    Just under two-thirds of affected homes are expected to be in London, according to estimates by estate agent Hamptons, and the government has said that it will use a home’s size and nearby sale prices nearby to judge the value of a property. 

    Britain’s mansion tax shows the difficulty of targeting wealth

    Malaysian Chinese bag-maker Liew Bin now sees value in protectionist measures as low-cost competition from China threatens Malaysian small and medium-sized enterprises.

    Once staunchly pro-China, Malaysian Chinese businesses are now distancing themselves from Beijing

    Cisco’s Tay Bee Kheng says that her value-add as the tech giant’s Asean chief lies in identifying what each regional market needs specifically, and presenting that to her global bosses.

    The only common thing in S-E Asia is that we all eat rice: Cisco’s Asean president

    Artist’s impression of a planned DayOne data centre in Singapore. The company is part of a wave of firms in the sector eyeing IPOs as soon as 2026.

    Singapore data centre operator DayOne opts for US IPO at likely US$20 billion valuation

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More