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Frasers Centrepoint Limited confirms lodgement of prelim prospectus for logistics & industrial trust
SINGAPORE (June 3): Frasers Centrepoint Limited (FCL) says it has lodged the preliminary prospectus of Frasers Logistics & Industrial Trust with the Monetary Authority of Singapore for its proposed initial public offering and listing.
The offer units will be priced at between 85 cents and 89 cents each.
Frasers Logistics & Industrial Trust will hold a portfolio of 51 Australian industrial properties. In addition, FLT will also be granted call option rights to acquire an additional three Australian industrial properties after its listing.
FLT will be acquiring the freehold and leasehold interests in the IPO properties and call option properties from Frasers Property Australia group of entities, which are subsidiaries of the company.
TCC Group, which is controlled by Charoen Sirivadhanabhakdi and Khunying Wanna Sirivadhanabhakdi, the controlling shareholders of FCL, will subscribe to between 89.9 million units and 94.1 million units.
FCL will hold approximately 22.5% of the units post-listing.
FCL shares closed 0.31% higher at $1.60.
(See more: " Frasers Logistics & Industrial said to seek $900 mil in Singapore IPO" )
- See more at: http://smr.theedgemarkets.com/article/frasers-centrepoint-limited-confirms-lodgement-prelim-prospectus-frasers-logistics?utm_source=Singapore+Market+Report& utm_campaign=a403f4a9c2-06062016SMR& utm_medium=email& utm_term=0_46b7beec93-a403f4a9c2-90565217#overlay-context=article/portfolio-we-are-taking-profit-anticipation-elevated-market-volatility
Frasers Centrepoint says has applied for Singapore REIT listing of Australian assets
SINGAPORE (May 9): Frasers Centrepoint (FCL) confirmed on Monday that it had applied to list a Singapore REIT which will hold a portfolio of its Australian logistics and industrial assets.
In a filing to the Singapore Exchange after a request for a trading halt, FCL says relevant applications have been made to the various regulatory authorities, including SGX and the Monetary Authority of Singapore, for an initial public offering and listing of the REIT.
" The company wishes to reiterate that no decision has been made as to whether the transaction will take place and there is currently no certainty that the company will proceed with the offering," it says, adding that an announcement will be made by the company in the event of further material development.
FCL says there is no certainty that it will proceed with the IPO.
The Business Times reported on Monday that the REIT could be worth $800 million to $900 million, and the IPO could be slated for June this year. The new REIT will likely be called Frasers Logistics and Industrial Trust (FLT). A special feature of FLT is that investors can choose to receive their distributions in Australian dollars or Singapore dollars.
FCL has three other Singapore-listed trusts - Frasers Centrepoint Trust, office landlord Frasers Commercial Trust and Frasers Hospitality Trust.
FCL shares closed 2.13% higher at $1.68.
- See more at: http://smr.theedgemarkets.com/home/frasers-centrepoint-says-has-applied-singapore-reit-listing-australian-assets#sthash.Wzyv0n8J.dpuf
this counter for sure will be one of the future blue chips
MAY 21, 2015
7:32 PM
FRASERS Centrepoint has increased the total size of its first retail bonds offering to S$500 million from an initial S$200 million, following strong investor demand.
http://btd.sg/1EZHvgd
SINGAPORE (Feb 13): Frasers Centrepoint has reported earnings of $186.9 million for the quarter ended Dec 31. That compares with $120.8 million for the same period a year earlier.
Revenue rose 94% to $1.07 billion, driven by contributions from Australand, which the developer acquired in August last year.
The listing of Frasers Hospitality Trust last July also gave it a new revenue stream from the six hotels the trust acquired from Thailand' s TCC Group.
Sales of completed China developments also aided Frasers Centrepoint' s top line.
One of the best stocks to own.
isaacblakejose ( Date: 15-Dec-2014 15:23) Posted:
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FCT(Frasers Centrepoint Trust ) maybe one of the most defensive counter in S-Reits.
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What a con man stock!
Fraser centrepoint got a lot of babies. But the mother is held by the Thai tycoon, which has 88 percent of the mother's shares.
Absolutely! Trading more than $1.80 one is Fraser centrepoint trust, which is the child of Fraser centrepoint limited. The child is now worth more than the mother though
thanks for the info ..so FCL is actually is actually Fraser Centre Point limited? trading $> $1.80 is this the correct one sorry for my ignorance appreciate your clarification
i_love_girls ( Date: 20-Oct-2014 18:32) Posted:
Fraser Centrepoint is the mother of Fraser Centrepoint Trust. There is no free stuff la! FNN last time share price $6 plus right, then they split into 1 FNN share and 2 FCL shares lol!
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Fraser Centrepoint is the mother of Fraser Centrepoint Trust. There is no free stuff la! FNN last time share price $6 plus right, then they split into 1 FNN share and 2 FCL shares lol!
Is this spin off from F7N..ie given free from F& N.What is the difference between thisFrasers Cpt Tr ?Confused
i_love_girls ( Date: 20-Oct-2014 17:41) Posted:
| Argh! Investing in this stock is like waiting until my neck turns giraffe! Keep dropping sia! |
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Argh! Investing in this stock is like waiting until my neck turns giraffe! Keep dropping sia!
Shortselling last minute sia! Monday is going to a drop again
This stock is interesting! Come on! Drop back to 1.4
We can get the latest index performance and chart outlook for Frasers Cpt online.
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Training and Placements
Capitaland probably just wanted to free up some cash? Anyway selling pressure for Frasers Cpt seems to be subsiding.
From CIMB,
We believe FCL&rsquo s plan to buy up to 100% of Australand makes strategic sense but has a slightly negative financial impact.
We have yet to factor in the transaction but estimate it can lead to a 3% reduction in RNAV/TP using 1.1x RNAV/NTA for ALZ (its historical average P/BV). We believe that is more than priced-in with FCL&rsquo s 4% correction post announcement.
We maintain our Add call and raise our target price (30% disc. to RNAV) slightly for the recent accretive take-up of FCT private placement. We will revisit our Add call if a bidding war occurs and FCL significantly overpays for ALZ.
What Happened
FCL announced a non-binding conditional proposal to acquire up to 100% of Australand&rsquo s (ALZ AU, Not Rated) shares via an off-market takeover offer for cash of A$4.48/share. FCL has an exclusive period of four weeks to conduct due diligence before finalising a binding Implementation Agreement. FCL&rsquo s share price fell 4% post the announcement.
What We Think
Makes sense strategically. This move is in line with management&rsquo s strategy of building up recurring income and scale in core markets. If 100% of ALZ is acquired, FCL would more than double its recurring income, and Australia would form ~40% of its total assets.
Financial impact slight negative. Assuming full debt funding, gearing could rise significantly from 0.5x at Mar 14 to ~1x and potential equity fund raising may lead to dilution. Assuming ALZ&rsquo s RNAV/NTA is at 1.1x, the transaction can reduce our RNAV and TP to S$2.88 and S$2.02 respectively, still 56% and 9% higher than FCL&rsquo s current price.
Risk of overpaying more than priced in. The offer price is at 1.2x ALZ&rsquo s NTA, above peer average and its historical P/BV of 1-1.1x. Stockland has an existing all-scrip offer that values ALZ at A$4.35 and we do not rule out a counter bid. We however believe the risk of overpaying has already been priced into FCL&rsquo s current valuation, which reflects a scenario where FCL pays ~A$5.50/share for ALZ (assuming a 30% discount to RNAV for FCL).
Add. We are positive on the move from a strategic angle and believe the negatives have been priced in. We will revisit our call if a bidding war occurs.
(Read Report)
Novice13 ( Date: 05-Jun-2014 22:47) Posted:
Is Australand worth to takeover? If the case, dun understand why capitaland sold its entire stake earlier?
luminol ( Date: 05-Jun-2014 22:18) Posted:
Because of the Australand buy-over news, accompanied by bad market sentiments. Gearing has thus increased greatly, but let' s not be myopic. :)
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Is Australand worth to takeover? If the case, dun understand why capitaland sold its entire stake earlier?
luminol ( Date: 05-Jun-2014 22:18) Posted:
Because of the Australand buy-over news, accompanied by bad market sentiments. Gearing has thus increased greatly, but let' s not be myopic. :)
lucky168 ( Date: 05-Jun-2014 22:15) Posted:
watched in awe on how a 12% minority shareholdings can cause this share to drop 6% in just a few days...
amazing 
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Because of the Australand buy-over news, accompanied by bad market sentiments. Gearing has thus increased greatly, but let' s not be myopic. :)
lucky168 ( Date: 05-Jun-2014 22:15) Posted:
watched in awe on how a 12% minority shareholdings can cause this share to drop 6% in just a few days...
amazing
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