Frasers Centrepoint Trust raises S$66.7 mln from placement

Frasers Centrepoint Trust, which owns shopping malls in Singapore, said on Thursday it has raised a gross amount of S$66.7 million from the placement of 48 million new units.

The trust fixed the issue price at S$1.39 each, at the top of the S$1.35-S$1.39 range. The placement was about 4.1 times subscribed and saw strong participation from more than 30 institutional investors from Asia and Europe, the company said.

DBS Bank was the sole financial adviser and underwriter for the placement, which was intended to partially fund an acquisition of a shopping mall.

Source : Today – 15 Sep 2011

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