Frasers Hospitality Trust privatisation gets conditional green light from SGX-ST

The sponsor offered to buy all stakes for $0.71 each in cash last May.

Frasers Hospitality Trust (FHT) has received an in-principle approval from the Singapore Exchange Securities Trading Limited for its plans to go private.

This follows the news in May when Frasers Property Limited (FPL) and its managed entities announced plans to privatise the trust by acquiring all stapled securities held by public investors at $0.71 each in cash.

SGX-ST said the financial terms of the privatisation scheme were fair and reasonable and that it has ‘no objection’ for FHT to delist.

However, the approval of the scheme will be subject to the agreement of the majority of the stapled securityholders.

Stapled securityholders are advised to refrain from taking any action in relation to their stapled securities, which may be prejudicial to their interests.