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FLCT raises $335.8 mil from private placement with issue price at top end of range

Felicia Tan
Felicia Tan5/25/2021 10:20 AM GMT+08  • 2 min read
FLCT raises $335.8 mil from private placement with issue price at top end of range
The placement was 2.8 times subscribed.
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The manager of Frasers Logistics & Commercial Trust (FLCT) announced on May 24, that it has raised gross proceeds of some $335.8 million through a private placement of 240 million new units in FLCT at an issue price of $1.399 per new unit.

The issue price stood at the top end of the price range of $1.363 to $1.399 per unit. The issue price represents a 1.5% discount to the adjusted volume weighted average price (VWAP).

The private placement was said to have drawn strong demand from new and existing institutional and other accredited investors which led to the book being 2.8 times subscribed, including the upsize option.

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