The manager of Frasers Centrepoint Trust (FCT) says that the preferential offering of 324,639,666 new units in FCT will open at 9am on Oct 9.

The new units are offered on the basis of 290 preferential offering units for every 1,000 existing units in FCT held as at 5pm on Oct 6 to eligible unitholders at an issue price of $2.34 per unit.

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FCT’s sponsor, Frasers Property Limited (FPL) holds 409,430,348 units as at Oct 6, which represents approximately 36.57% of the total number of units in issue.

The units are held through FPL’s wholly-owned subsidiaries Frasers Property Retail Trust Holdings and FCT’s manager.

The preferential offering will close at 5pm on Oct 19, and trading is expected to commence at 9am on Oct 27.

Units in FCT closed 1 cent lower, or 0.4% down, at $2.35, on Oct 8.