At $2.18, it was at a discount of 2.9% to the adjusted VWAP of S$2.2446 per unit. The new units will be listed on Feb 5.
FCT on Jan 25 announced plans to buy over a 24.5% stake in the mall Nex, now held by its sponsor Frasers Property .
Upon completion of the acquisition, FCT will bring its stake in Nex to 50%.
The transaction will cost FCT $523.1 million. Besides raising this $200 million from the private placement, FCT will fund the acquisition via borrowings.
See also: Keppel Infrastructure Trust dives deeper into subsea value chain with acquisition