Frasers Centrepoint Trust is announcing the acquisition of an extra 24.5% stake in the Nex mall for S$523.1 million, to be funded by a private placement of S$200 million at S$2.18 per share:

Mr Richard Ng, chief executive of FCT’s manager, said: “The acquisition follows from our initial acquisition of 25.5 per cent in Nex in February 2023 and will raise FCT’s effective interest to 50 per cent on completion.”