Frasers Centrepoint Trust (FCT) will launch a private placement of 137 million new units to partly finance the acquisition of YewTee Point and Northpoint 2 malls.
The issue price ranges from S$1.29 to S$1.33 per new unit, which reflects a discount of 3.7 percent to 6.6 percent to the adjusted volume weighted average price of S$1.38 per unit for trades done on the full market day on Monday, January 25.
FCT said it expects to raise a gross proceed of between S$176.7 million and S$182.2 million, which will be partly used to finance the acquisition of the two malls.
Last month, the company announced plans to purchase the two shopping malls for $290.2 million.