Thai tycoon Charoen Sirivadhanabhakdi’s Frasers Property has announced plans to privatize its Singapore-listed Frasers Hospitality Trust (FHT) in a transaction estimated at S$1.37 billion.
The company is offering S$0.710 for each share it does not currently own, presenting a 6.8% premium over the last closing price of S$0.66. Frasers Property holds a 24.23% ownership stake in Frasers Hospitality Trust, with TCC Group controlling a more substantial 36.72% stake.
Since its initiation on the Singapore Exchange in 2014, Frasers Hospitality Trust has curated a diverse portfolio, consisting of 14 hospitality assets, including hotels and serviced apartments.
As of December 2024, these investment properties had a combined market value of S$1.76 billion, while the REIT itself boasted a market capitalization of S$1.28 billion.