Frasers Logistics Trust's private placement 4.6 times subscribed

SINGAPORE (June 28): Frasers Logistics & Industrial Trust (FLT) announced this morning that it has closed its private placement exercise of 78 million new units at an issue price of $1.01 each.

This represents a discount of 2.9% against its last closing price of $1.04 and translates into gross proceeds of $78.8 million and net proceeds of $77.2 million.

Besides being 4.6 times subscribed, the final issue price also comes in at the top end of the indicative range of $0.985 – $1.01, which reflects the strong sentiment in the market and FLT’s prospects.

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