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Frasers Property, Frasers Hospitality Trust announced a trading halt

Reports said Frasers Property is planning to take the trust private.

Frasers Hospitality Trust and its sponsor Frasers Property Limited have announced a trading halt.

However, the announcement did not say the reason for the trading halt.

In a previous bourse filing, Frasers Hospitality Trust said that it has commenced a review of its business strategy. As part of the review, the group is exploring options with the sponsor of FHT, amongst various options, are being considered to ensure alignment with the interests of stapled security holders.

A report by the Wall Street Journal said that Frasers Property is aiming to make a privatisation offer to Frasers Hospitality Trust.

Frasers Property previously attempted to take the trust private in 2022 but failed to gain enough support.

Frasers Property has a 24.23% stake in the hospitality trust. Meanwhile, the group’s majority shareholder, TCC Assets, owns a 36.72% stake in the REIT.

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