FCT yesterday announced that it will be exercising its rights of pre-emption to acquire an additional 12.07% stake in AsiaRetail Fund (ARF) for $197.2 million. The acquisition is expected to complete in July and will increase FCT’s interest in ARF to 36.89% from 24.82%.
SINGAPORE (July 1): With its portfolio of suburban malls that rely less on tourists, Frasers Centrepoint Trust (FCT) is expected to see the fastest recovery from Covid-19, according to CGS-CIMB Research.
On that note, the research house is keeping its “add” call on FCT with a target price of $2.49.
