FCT to Buy Additional Stake in Nex Mall, Raises $200M in Equity

News about Frasers Centrepoint Trust

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.”

Frasers Centrepoint Trust
Price2.160 SGD
NAV2.250 SGD
Yield (4 quarters)5.58%