Frasers Centrepoint Trust (FCT) is launching a large acquisition with the purchase of Northpoint City South Wing (a suburban mall in Yishun, Singapore) for S$1.17 billion. To fund the transaction, FCT is also raising at least S$400 million of new equity:

FCT has announced the launch of an equity fund raising (EFR) of no less than $400 million, comprising a placement of $200 million at a price of $2.07 to $2.113 per unit, which translates into a discount of 1.8% to 3.8% of adjusted VWAP; and a preferential offer of $200 million with unit prices ranging from $2.03 to $2.07, representing a discount to VWAP of 3.8% to 5.7%.