FPTech holds about 51.0% of the shares in STT GDC Thailand, which is a joint venture (JV) with ST Telemedia GDC Thailand. The JVCo mainly provides data centre co-location services, which include the provision of co-location space, as well as racks, power, in-building connectivity services and so on. On May 10, STT GDC – or ST Telemedia Global Data Centres – were said to be mulling a pre-initial public offering (IPO) round of US$1 billion ($1.32 billion).
Frasers Property (SGX:TQ5
) has acquired Frasers Property Technology (FPTech) from its 81.8%-owned subsidiary, Frasers Property Thailand (FPT) for a consideration of 460.0 million baht ($18.0 million). Frasers Property Technology was a wholly-owned subsidiary of FPT prior to the sale.
The group, through its wholly-owned subsidiary, Frasers Property Holdings (Thailand) or FPHT, had entered into a share purchase agreement (SPA) on May 10 and completed the acquisition of FPTech on the same day.
