Frasers Property’s bid to privatise Frasers Hospitality Trust does nothing for the property group’s minorities

[SINGAPORE] Minority investors of Frasers Hospitality Trust (FHT) are getting a second chance to exit their holdings by way of a privatisation offer.

FHT’s sponsor Frasers Property recently proposed privatising the stapled group at S$0.71 per stapled security via a trust scheme of arrangement. In September 2022, Frasers Property’s earlier attempt to privatise FHT at S$0.70 per stapled security narrowly failed to get requisite support from minority stapled securityholders.

Frasers Property’s latest offer price is at a 10.7 per cent premium to FHT’s end-March net asset value (NAV) per stapled security of S$0.6416.