Frasers Centrepoint Trust closes preferential offering with 44.4% excess applications

FCT received 54.4 million excess applications.

Frasers Centrepoint Trust (FCT) received valid acceptances and excess applications for a total of 122.6 million units under its preferential offering, priced at $2.050 per unit.

The offering was 24.8% oversubscribed, comprising 80.5% valid acceptances and 44.4% excess applications.

It was made on the basis of 54 preferential offering units for every 1,000 existing units held as of 3 April at 5:00 pm and closed on 16 April.

FCT initially issued a total of 98.2 million preferential offering units, raising approximately $201.3m.

Together with the $220.0m raised from the private placement, which closed on 26 March, the equity fundraising has generated total gross proceeds of about $421.3m.

The preferential offering units are expected to be listed and quoted on the Mainboard of the SGX-ST at 9:00 am on 25 April.