Frasers Property (FPL)

FPL offers 70 cents to privatise Frasers Hospitality Trust, above NAV, at a premium to 12-month VWAP, but below IPO at 88 cents.

The next 20 years: As financialisation of real estate continues, developers may restructure

The private placement issue price of $2.35 represents a discount of 4.9% to the adjusted VWAP of $2.472 per unit.

On July 1, Frasers Centrepoint Trust (FCT) announced it has exercised its rights of pre-emption under the bye-laws of PGIM Real Estate AsiaRetail Fund (ARF) to acquire another 12.07% stake for $197.2 million.