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Frasers Centrepoint Trust remains in favour amid equity fund raising on Waterway Point stake acquisition

Stanislaus Jude Chan
Stanislaus Jude Chan5/21/2019 02:38 PM GMT+08  • 3 min read
Frasers Centrepoint Trust remains in favour amid equity fund raising on Waterway Point stake acquisition
SINGAPORE (May 21): Frasers Centrepoint Trust (FTC) is expected to add 19.8% to its share base from the issue of 184 million new units to raise funds amid its proposed acquisition of a 33.3% stake in Waterway Point.
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SINGAPORE (May 21): Frasers Centrepoint Trust (FTC) is expected to add 19.8% to its share base from the issue of 184 million new units to raise funds amid its proposed acquisition of a 33.3% stake in Waterway Point.

But analysts say the move will strengthen FCT’s distribution per unit (DPU) growth profile.

“The purchase should diversify its AUM (asset under management) exposure to another strong suburban mall asset and potentially add 12.0% to its distributable income,” says Maybank Kim Eng Research analyst Chua Su Tye. “We estimate DPUs could rise 1-3% through FY19-21E.”

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