Frasers Hospitality Trust IPO Balloting Result

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From Channel News Asia.

Frasers Hospitality Trust reports that the 628 million stapled securities offered to retail investors attracted around S$552.7 million worth of applications. This works out to a subscription rate of around 13.8 times.

FHT Logo FraserHTrust_BallotingResults

 

SINGAPORE: Frasers Hospitality Trust (FHT) received strong investor interest for its initial public offering (IPO), with demand exceeding the number of stapled securities offered by around 19 times, its manager said on Friday (July 11).

FHT said in a statement the 628 million stapled securities offered to retail investors attracted around S$552.7 million worth of applications at the close on Thursday. This works out to a subscription rate of around 13.8 times.

The indications of interest for the placement tranche amounted to S$2.5 billion, representing approximately 20.7 times the stapled securities available.

FHT, which is managed by a unit of Singapore property giant Frasers Centrepoint, owns 12 properties in Asia, Australia and the UK valued around S$1.67 billion.

The assets include the InterContinental Singapore, the Westin Kuala Lumpur, ANA Crowne Plaza Kobe, Novotel Rockford Darling Harbour, Fraser Place Canary Wharf, Fraser Suites Glasgow and Fraser Suites Edinburgh.

Based on the offer price of S$0.88 per stapled security, successful applicants will enjoy a distribution yield of 6.9 per cent in the first financial year and 7.0 per cent the following year.

See Frasers Hospitality Trust IPO Prospectus and analysis here.

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Frasers Hospitality Trust IPO Prospectus

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INTRODUCTION TO Frasers Hospitality Trust (FHT)
FHT is a hospitality stapled group comprising FH-REIT and FH-BT. FH-REIT is a Singapore-based real estate investment trust (“REIT”) established with the principal investment strategy of investing on a long-term basis, directly or indirectly, in a diversified portfolio of income-producing real estate located anywhere in the world except Thailand, which is used primarily for hospitality and/or hospitality-related purposes, whether wholly or partially, as well as real estate-related assets in connection to the foregoing.

Initial Portfolio

FHT Portfolio IPO

FHT Portfolio Contribution IPO

FHT Lease Service Apartment

FHT Portfolio Contribution IPO

 

FHT Revenue Projection

Frasers Hospitality Trust Structure

FHT Structure

FHT IPO Timetable

I will be using this Frasers Hospitality Trust as one of the case study in my coming Singapore REITs Investing Class. You can sign up the course here HERE if you are interested. Check out how to analyse Frasers Hospitality REIT here.

Comparison Table of Singapore REITs.

 

 

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