SINGAPORE (Dec 9): On Dec 2, during a media briefing, Robert Wallace, CEO of Frasers Logistics & Industrial Trust (FLT), said one of the benefits of merging with Frasers Commercial Trust (FCOT) was that the joint real estate investment trust (REIT) would have a larger free-float market cap and account for a larger weightage in important indices.
“We would have been ranked No 9 as at the last trading date (Nov 27, before the announcement) and we will have a higher weightage in the FTSE EPRA NAREIT Index. Our free float will increase by 1.5 times, from $1.9 billion to $3 billion,” Wallace elaborated.
FLT was included in the FTSE EPRA NAREIT Global Real Estate Index Series (Global Developed Index) on March 19. Separately, Frasers Centrepoint Trust (FCT), which was listed in 2006, was included in the FTSE EPRA NAREIT Index in September.