Frasers Centrepoint Trust (J69U)

[weng0202]

I believe malls will still stay relevant in sg. Probably the type of businesses will change. Retail will still have it's presence, maybe just smaller.

 

[havetheveryfun]

I believe malls will still stay relevant in sg. Probably the type of businesses will change. Retail will still have it's presence, maybe just smaller.

sometimes depend on the location and the neighboring malls also. FCT's bedok point one such sad example

 

[weng0202]

sometimes depend on the location and the neighboring malls also. FCT's bedok point one such sad example

This one needs to see how the management revitalise the place.

 

[lzydata]

Frasers Centrepoint Trust to acquire Northpoint City South Wing for S$1.17 billion

- Consolidates FCT’s position as Singapore’s leading prime suburban retail space owner
- Strategic increase in exposure to Northpoint City, the largest mall in the North of Singapore
- 100% ownership unlocks multiple value creation opportunities through AEIs, tenant mix strategies and operational efficiencies
- Northpoint City is well-positioned to benefit from the revitalisation of the North Region of Singapore, underpinned by substantial new home additions and transformation of the region into a work-live-play hub
- The Acquisition is expected to be Distribution per Unit (“DPU”) accretive on a historical pro forma basis1

Press release: https://links.sgx.com/FileOpen/FCT_SGXAnnouncement_PressRelease.ashx?App=Announcement&FileID=837298
Presentation: https://links.sgx.com/FileOpen/FCT_...sentation.ashx?App=Announcement&FileID=837297
Announcement: https://links.sgx.com/FileOpen/FCT_SGXAnnouncement_Acquisition.ashx?App=Announcement&FileID=837295
Announcement appendix: https://links.sgx.com/FileOpen/FCT_..._Appendix.ashx?App=Announcement&FileID=837296

EGM to be called for unitholders' approval. Financing to be done with a private placement, preferential offering and potential issuance of perpetuals.

 

[lzydata]

...
(a) a private placement (the “Private Placement”) of such number of New Units (the “Private Placement Units”) to institutional, accredited and expert investors at an issue price of between S$2.070 and S$2.113 per Private Placement Unit (both figures inclusive) to raise gross proceeds of no less than S$200.0 million; and

(b) a non-renounceable preferential offering of such number of New Units (the “Preferential Offering”) to the existing unitholders of FCT (the “Unitholders”) on a pro rata basis at an issue price of between S$2.030 and S$2.070 per Preferential Offering Unit (both figures inclusive) to raise gross proceeds of approximately S$200.0 million.
...

https://links.sgx.com/FileOpen/FCT_...cord_Date.ashx?App=Announcement&FileID=837311

 

[demoforce1]

Does that mean, as common shareholders, we can buy stock between S$2.030 and S$2.070?
How much stock can we buy?

 

[ThinkPad70]

when will it be unhalted from trading?

 

[AndroidComa]

like this means current price at 2.2 cannot hold liao?
since it will be flooded with those at price 2.03?
unhalt and dump?

 

[lzydata]

Does that mean, as common shareholders, we can buy stock between S$2.030 and S$2.070?
How much stock can we buy?

when will it be unhalted from trading?

Will be determined after the private placement is done.

like this means current price at 2.2 cannot hold liao?
since it will be flooded with those at price 2.03?
unhalt and dump?

Yes it should drop a bit below the last traded price. But not all cases were like that, some rose too. This transaction and fundraising should be DPU accretive.

 

[boroangel]

Hi anyone familiar with such process,

- mind sharing more info on the process and how to apply?

- Are we able to do this online through DBSvickers and is it based on the number of shares of FCT one is currently holding? Am not in Singapore so am not able to apply via automated teller machines of participating banks.

- Also what is the maximum number of shares we can apply for and how is it allocated.

 

[lzydata]

Hi anyone familiar with such process,

- mind sharing more info on the process and how to apply?

- Are we able to do this online through DBSvickers and is it based on the number of shares of FCT one is currently holding? Am not in Singapore so am not able to apply via automated teller machines of participating banks.

- Also what is the maximum number of shares we can apply for and how is it allocated.

The details are not confirmed yet so let's wait. But if you bought your FCT through DBS Vickers and the units are in your CDP account then you should be able to apply for the new units through DBS online banking.

 

[weng0202]

Came at a good time, can add more. Wanted to add at near $2 pricing for some time.

 

[DevilPlate]

like this means current price at 2.2 cannot hold liao?
since it will be flooded with those at price 2.03?
unhalt and dump?

If drop to ~2.1 can consider buy abit

 

[Shion]

Frasers Centrepoint Trust to buy rest of Northpoint City for $1.17 billion​

https://www.straitstimes.com/busine...-buy-rest-of-northpoint-city-for-1-17-billion

SINGAPORE – The manager of Frasers Centrepoint Trust (FCT) announced on March 25 it will buy the rest of Northpoint City in Yishun for $1.17 billion.

The acquisition will make FCT the largest suburban retail landlord with a 10.3 per cent market share.

The sellers are Frasers Property, its controlling shareholder Thai billionaire Charoen Sirivadhanabhakdi and the estate of his late wife.

FCT inked agreements with FCL Amber and Bright Bloom Capital to acquire the south wing of Northpoint City for $1.17 billion. It will be done via the purchase of North Gem Trust (NG Trust), a private trust that holds the interests in the target property.

FCL Amber and Bright Bloom are the 50:50 owners of NG Trust. FCL Amber is a wholly-owned subsidiary of Frasers Property. Bright Bloom is a unit of TCC Prosperity, owned equally by Mr Sirivadhanabhakdi and the estate of his late wife Khunying Wanna Sirivadhanabhakdi.

Following the acquisition, FCT will have full ownership of Northpoint City, said Mr Richard Ng, chief executive of the manager of FCT.

“With full control, FCT will be able to implement holistic asset enhancement initiatives and tenant mix strategies to unlock further value across both wings,” he noted.

Mr Ng added: “The acquisition consolidates FCT’s position as Singapore’s leading prime suburban retail space owner and enables FCT to deliver regular and stable distributions to its unit holders.”

Northpoint City is the largest mall in north Singapore. It is linked to Yishun Integrated Transport Hub and has a 100 per cent committed occupancy.

The acquisition cost of $1.17 billion comprises $375.2 million for the acquisition price and about $785 million of bank loans owed by NG Trust.

It also includes about $11.3 million in acquisition fees payable to the manager, as well as other acquisition-related fees and expenses of about $1.4 million.

The manager intends to finance the acquisition by utilising the net proceeds from an issuance of new equity via a fund-raising launched on March 25.

This comprises a private placement offering to raise gross proceeds of no less than approximately $200 million and a preferential offering to raise gross proceeds of about $200 million.

The manager also intends to tap debt financing and potentially issue subordinated perpetual securities of no more than approximately $200 million.

The proposed acquisition is subject to approval by unit holders of FCT at an extraordinary general meeting to be convened by the trust at a date to be determined by the manager.

Units of FCT closed 0.5 per cent higher at $2.21 on March 24, ahead of a trading halt on March 25.

THE BUSINESS TIMES

 

[lzydata]

Private placement upsized from $200m to $220m, issue price $2.09.

Preferential offering issue price is set at $2.05, on the basis of 54 new units for 1,000 existing units.

https://links.sgx.com/FileOpen/FCT_...Placement.ashx?App=Announcement&FileID=837445

Timetable:

Event | Indicative Date
Launch of the Private Placement Tuesday, 25 March 2025
Close of the Private Placement Wednesday, 26 March 2025
Last date the Units are quoted on a “cum distribution” basis Tuesday, 1 April 2025
Record Date (for entitlement to the Cumulative Distribution and eligibility to participate in the Preferential Offering) Thursday, 3 April 2025 at 5.00 p.m.
Listing and trading of Private Placement Units Friday, 4 April 2025 at 9.00 a.m.
Opening date and time for the Preferential Offering Tuesday, 8 April 2025 at 9.00 a.m.
Last date and time for acceptance, application (if applicable) and payment for provisional allotments of Preferential Offering Units and Excess Preferential Offering Units Wednesday, 16 April 2025 at 5.30 p.m. (9.30 p.m. for electronic applications via automated teller machines of participating banks)
Listing and trading of Preferential Offering Units Friday, 25 April 2025 at 9.00 a.m.
Payment of Cumulative Distribution On or around Friday, 30 May 2025

https://links.sgx.com/FileOpen/FCT_SGXAnnouncement_Launch.ashx?App=Announcement&FileID=837386

 

[stanlawj]

FCT likely to go all the way down to $2.10.
Dividend (Ex-D on 2 Apr) is $0.06.
Opens at 2.17 today after trading halt.
2.17-0.06 = 2.11

Round to 2.10 for convenience.

 

[demoforce1]

Received email from SCB for corp action. but don't see anything related to this in the portal.

from email: NOTE: This MANDATORY corporate action notification is for your information only, no action is required for your participation in this event.

 

[70niner]

Received email from SCB for corp action. but don't see anything related to this in the portal.

from email: NOTE: This MANDATORY corporate action notification is for your information only, no action is required for your participation in this event.

I thought the preferential offering only starts from 8 Apr?

 

[onlycleanerinvest]

scb no news? they always only give like 2 days to sub when it opens?

 

[ThinkPad70]

scb no news? they always only give like 2 days to sub when it opens?

SCB mail - looks the options will be credited after 3 Apr and shareholders need to decide on acceptance payment by 7 Apr.

1.1 Security Entitlement Details

Credit/Debit Indicator:	Credit
Base Security Code:	J69U
Base Security Name:	FRASERS CENTREPOINT UNT
Disbursed Security Name:	CDS;FRASERS CENTREPOINT TRUST - RTS
Additional For Existing Securities:	54 for every 1000 unit(s)
Payout Type:	Security
Market Payment Date:	07-Apr-2025