Frasers Hospitality Trust (FHT)

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SINGAPORE (June 25): Frasers Hospitality Asset Management, the manager of Frasers Hospitality REIT, and Frasers Hospitality Trust Management, the manager of Frasers Hospitality Business Trust, have launched the private placement of 150 million new stapled securities at between 81 cents and 82 cents each to raise gross proceeds of up to $123 million.

Frasers Hospitality Trust intends to use the net proceeds of $120 million to fund the $248 million acquisition of a 75-year leasehold interest in Sofitel Sydney Wentworth from manager, sponsor and part owner Frasers Centerpoint Limited.

After the placement, the free float of the trust is projected to increase from 453.8 million to 544.5 million.

TCC Group, the ultimate controlling shareholder of Frasers Centerpoint Limited and Frasers Hospitality Trust, has given its undertaking to subscribe to its entitlement of new stapled securities at the issue price.

DBS Bank, Morgan Stanley Asia (Singapore), Standard Chartered Securities (Singapore), and United Overseas Bank are the joint bookrunners and underwriters for the offering.

(not vested)
I've been wondering: for stapled securities, does the dormant entity (or in future becomes active) gets funded proportionately as well in capital raising or the trust manager has discretion?
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)

Completion of Acquisition of Maritim Hotel Dresden, Germany

Maritim Hotel Dresden is the first hospitality asset acquired by FH-REIT in Germany. Located at Devrientstr. 10 and 12, Kleine Packhofstr. 17, 01067 Dresden, it is a freehold 328-key, heritage-listed property.

Save for the acquisition fee payable to the REIT Manager, the total cost of the Acquisition, including professional and other fees and expenses, of approximately €62.5 million (approximately S$96.5 million) has been fully funded by the proceeds from the issuance of S$100 million fixed rate subordinated perpetual securities in FH-REIT which was announced on 12 May 2016. The Acquisition Fee, as stated in the Announcement, will be paid in the form of stapled securities in Frasers Hospitality Trust.

<not vested>
Specuvestor: Asset - Business - Structure.
Since we are talking about FCL, I happen to come across this in one of my broker feeds so just posting for info sake.

FHT 266.3m Rights issue oversubscribed 141.3%

Frasers Hospitality Trust’s S$266.3 Million Rights Issue Oversubscribed at 141.3%
 Gross proceeds will be deployed primarily to acquire a prime hotel in Melbourne’s core central business district area
 Acquisition to enhance FHT’s portfolio resilience through geographical diversification
 Rights Stapled Securities will be listed and quoted on the Mainboard of the SGX-ST with effect from 9.00 a.m. on 17 October 2016

Haha this Thai boss like the Chinese using cheap and easy credit to buy up everything everywhere...
Virtual currencies are worth virtually nothing.

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