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Frasers Commercial Trust spurns offer to invest in Frasers Tower

PC Lee
PC Lee6/27/2019 03:28 PM GMT+08  • 2 min read
Frasers Commercial Trust spurns offer to invest in Frasers Tower
SINGAPORE (June 27): Frasers Commercial Trust (FCOT) has turned down an invitation from sponsor Frasers Property Limited (FPL) to acquire a stake in Frasers Tower under a right of first refusal (ROFR) agreement.
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SINGAPORE (June 27): Frasers Commercial Trust (FCOT) has turned down an invitation from sponsor Frasers Property Limited (FPL) to acquire a stake in Frasers Tower under a right of first refusal (ROFR) agreement.

The ROFR offer was made after FPL gave notice it was selling half of its 100% stake in Frasers Tower to a long-term strategic investor via the issue of new Aquamarine Star Trust (AST) units.

AST holds Frasers Tower, the 38-storey premium Grade A office development located on Cecil Street and has a three-story adjacent retail podium. It has a total NLA of about 685,000 sf, of which around 93% is leased as at March 31.

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