Frasers Centrepoint Trust's Priority Units 24.8% Oversubscribed

The manager of Frasers Centrepoint Trust (FCT) said on Monday (April 21) that its priority offering had been 24.8% oversubscribed.

The fund manager received applications for 122,584,803 priority offering units, compared with the 98,185,673 units on offer. The fund launched the offering earlier this month at S2.05perunit.Theofferingpricerepresenteda7.42.2136.

The offering was based on the allocation of 54 units for every 1,000 existing units held as at 5 p.m. on April 3, raising a total of about S$201.3 million.

Together with the private placement completed on March 26, FCT has raised a total of S421.3million.Thesizeoftheprivateplacementafterthetop−upwasaboutfourtimesthatoftheinitialoffering,with105.3millionnewunitssoldatanissuepriceofS2.09 per unit.

FCT will use the net proceeds from this financing to repay certain existing debts and help complete the recent acquisition of Northpoint City.

On March 25, FCT signed a unit purchase agreement with FCL Amber and Bright Bloom Capital to acquire the South Wing of Northpoint City for S$1.17 billion. The acquisition was carried out by acquiring all the units of North Gem Trust, a private trust company holding the interests in the South Wing of Northpoint City.

These units are expected to start trading on the Singapore Exchange at 9 a.m. on April 25.

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The fund launched the offering earlier this month at S2.05<em>perunit</em>.<em>Theofferingpricerepresenteda</em>7.42.2136.</p><p style=\"text-align: start;\">The offering was based on the allocation of 54 units for every 1,000 existing units held as at 5 p.m. on April 3, raising a total of about S$201.3 million.</p><p style=\"text-align: start;\">Together with the private placement completed on March 26, FCT has raised a total of S421.3<em>million</em>.<em>Thesizeoftheprivateplacementafterthetop</em>−<em>upwasaboutfourtimesthatoftheinitialoffering</em>,<em>with</em>105.3<em>millionnewunitssoldatanissuepriceofS</em>2.09 per unit.</p><p style=\"text-align: start;\">FCT will use the net proceeds from this financing to repay certain existing debts and help complete the recent acquisition of Northpoint City.</p><p style=\"text-align: start;\">On March 25, FCT signed a unit purchase agreement with FCL Amber and Bright Bloom Capital to acquire the South Wing of Northpoint City for S$1.17 billion. 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The fund launched the offering earlier this month at S2.05<em>perunit</em>.<em>Theofferingpricerepresenteda</em>7.42.2136.</p><p style=\"text-align: start;\">The offering was based on the allocation of 54 units for every 1,000 existing units held as at 5 p.m. on April 3, raising a total of about S$201.3 million.</p><p style=\"text-align: start;\">Together with the private placement completed on March 26, FCT has raised a total of S421.3<em>million</em>.<em>Thesizeoftheprivateplacementafterthetop</em>−<em>upwasaboutfourtimesthatoftheinitialoffering</em>,<em>with</em>105.3<em>millionnewunitssoldatanissuepriceofS</em>2.09 per unit.</p><p style=\"text-align: start;\">FCT will use the net proceeds from this financing to repay certain existing debts and help complete the recent acquisition of Northpoint City.</p><p style=\"text-align: start;\">On March 25, FCT signed a unit purchase agreement with FCL Amber and Bright Bloom Capital to acquire the South Wing of Northpoint City for S$1.17 billion. The acquisition was carried out by acquiring all the units of North Gem Trust, a private trust company holding the interests in the South Wing of Northpoint City.</p><p style=\"text-align: start;\">These units are expected to start trading on the Singapore Exchange at 9 a.m. on April 25.</p> <a href=\"https://ttm.financial/S/J69U.SI\">$(J69U.SI)$</a></body></html>","text":"The manager of Frasers Centrepoint Trust (FCT) said on Monday (April 21) that its priority offering had been 24.8% oversubscribed. The fund manager received applications for 122,584,803 priority offering units, compared with the 98,185,673 units on offer. The fund launched the offering earlier this month at S2.05perunit.Theofferingpricerepresenteda7.42.2136. The offering was based on the allocation of 54 units for every 1,000 existing units held as at 5 p.m. on April 3, raising a total of about S$201.3 million. 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