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FCT raises $421.3m in oversubscribed equity fundraising activity
The upsized private placement was 4 times subscribed.
Frasers Centrepoint Trust raised $421.3m from its oversubscribed equity fundraising exercise.
In a bourse filing, the Trust said it increased its equity fundraising by $220m after its initial private placement offering drew strong demand.
The upsized private placement was 4 times subscribed, with the company intending to use the gross proceeds to repay existing debts and pay professional fees incurred with the fundraising.
The REIT priced its private placement units at $2.090.
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