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Frasers Centrepoint looking to raise $292 mln from hospitality trust IPO -IFR
June 23, 2014 / 3:16 AM / 3 years ago

Frasers Centrepoint looking to raise $292 mln from hospitality trust IPO -IFR

SINGAPORE, June 23 (Reuters) - Singapore real estate company Frasers Centrepoint Ltd (FCL), backed by Thai billionaire Charoen Sirivadhanabhakdi, plans to raise S$365 million ($292 million) by listing its hospitality real estate investment trust (REIT) in Singapore, IFR reported.

The listing would mark the first step in merging the property assets of Charoen’s business empire, which includes 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.

The REIT is looking to sell 415 million units at a fixed price of S$0.88 a unit, IFR reported.

An external spokeswoman for Frasers Centrepoint declined to comment.

DBS, Morgan Stanley N>, Standard Chartered and United Overseas Bank are the main advisers on the deal, IFR reported.

$1 = 1.2503 Singapore Dollars Reporting by S. Anuradha of IFR and Anshuman Daga; Editing by Kenneth Maxwell

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