Frasers Property raises stake in Thailand subsidiary for $1.09m

It has bought 620,400 shares for 67.1 cents each on 18 December.

Frasers Property’s (FPL) is hiking its shares in Frasers Property Thailand (FPT) from 80.82% to 80.89% for $1.09m (THB24.22m), the company announced.

FPL’s indirect wholly-owned subsidiary FPHT has completed its purchase of 620,400 shares for around 67.1 cents (THB15.04) each on 18 December.

It also expects to complete its acquisition of 538,200 shares for 68 cents (THB15.26) each in 19 December, and another 432,500 shares for 69 cents (THB15.44) each in the day after.

The shares have been bought in the open market on the SET, and have been paid for in cash and funded by Frasers Property Group’s internal resources.

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