News about Frasers Centrepoint Trust —
Frasers Centerpoint Trust wants to acquire the remaining 63.1% share of AsiaRetail Fund (ARF) for S$1.06 billion from its sponsor, and is seeking to raise S$1.39 billion of new equity.
ARF owns five retail malls in Singapore - Tiong Bahru Plaza, White Sands, Hougang Mall, Century Square and Tampines 1 - as well as the Central Plaza office property.
The manager wants to issue 628 million new units with either a public offering, a private placement or both. Unit holders will get to vote on the proposal at a September 28 extraordinary general meeting.