Frasers Property’s bid to privatise Frasers Hospitality Trust does nothing for the property group’s minorities
Undervalued Frasers Property needs an effective plan on how to hold hospitality assets
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Beijing’s calculated silence on the Iran war
DPM Gan warns of 3 structural shifts to the global system that will bring greater challenges – and opportunities
