Frasers Hospitality Trust has received approval-in-principle from the Singapore Exchange to delist, once the privatisation scheme becomes effective and binding.
FHT will then seek unitholders' go-ahead at a scheme meeting to be called, where at least 75% of unitholders in value present at the meeting vote in favour.
Other conditions include the IFA saying the terms of the scheme is both fair and reasonable.
Frasers Property, FHT's sponsor, had on May 14 announced an offer of 71 cents per unit to make a second attempt to privatise it.
Frasers Property tried to privatise FHT back in September 2022 at 70 cents per stapled security but was voted down by shareholders by a narrow margin.
The current offer price of 71 cents implies 1.11 times P/NAV, which beats the implied P/NAV of other previous S-REIT privatisations' 1.04 times.
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FHT units last traded at 70 cents on July 11.
