SINGAPORE, March 12 Frasers Centrepoint Ltd
(FCL), a company controlled by Thai billionaire
Charoen Sirivadhanabhakdi, won approval from the Singapore
Exchange to list a hospitality real estate investment trust
The move follows news that FCL is looking to raise up to
S$600 million ($473 million) through the listing of a
hospitality real estate investment trust in Singapore in the
The listing would mark the first step in merging the
property assets of Charoen's business empire, which operates
under the Singapore-listed FCL and his TCC Group, after the Thai
tycoon won control of the drinks-and-property conglomerate
Fraser and Neave in an $11 billion deal last year.
DBS, HSBC, Morgan Stanley and
United Overseas Bank are the main advisers on the
deal, sources had told Reuters earlier.
FCL in a statement said that the timing for the listing
would depend on several factors, including market conditions.
Lotte Shopping Co Ltd, South Korea's biggest
shopping mall owner, postponed a $1 billion real estate
investment trust in Singapore in March due to an emerging market
sell-off, sources had said earlier.
(Reporting by Saeed Azhar, editing by Louise Heavens)