Frasers Hospitality Trust raises $367m from SGX IPO

The stock debuted on the mainboard today.

After its highly-anticipated IPO made the headlines last month, Frasers Hospitality Trust today announced that it has raised $367.9 million from the offering.

FHT’s stapled securities commenced trading at 2:00pm today, debuting at $0.895 cents. Its IPO was pegged at $0.88 per share.

According to FHT, “Gross proceeds of S$367.9 million have been raised from the Offering and the issuance of the Cornerstone Stapled Securities. Of the gross proceeds raised, S$366.8 million will be disbursed
towards the following: (i) S$338.4 million towards the balance purchase consideration for the acquisition of the Initial Portfolio; and (ii) S$28.4 million towards certain issue-related costs.The Managers are pleased to announce that FHT has today completed the acquisition of the Initial Portfolio.”