Frasers Commercial Trust raises equity

Singapore-listed commercial property developer executes only the second major S-Reit deal of the year to fund the acquisition of an office block in Australia.

Singapore-listed Frasers Commercial Trust FCOT provided S-Reit investors with a rare opportunity to pick up new paper from the sector on Thursday with a S$140.1 million $102 million deal to fund the acquisition of an office block in Australia.

So far this year, there has only been one S$525 million equity offering for Keppel Infrastructure Trust in late May. The following month Canadian financial services group Manulife was forced to postpone its S$569 million initial public offering because of volatile markets. 

Since April, the FTSE S-REIT Index has not performed well, falling 6.2% on worries that an imminent rate hike in the US may dampen investor...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222