For each 100 existing shares held by shareholders now, they are entitled to take up 37 rights shares.
Frasers Property plans to raise $1.28 billion via a rights issue, so that it can have more resources to invest in industrial and logistics assets, as well as to reduce its gearing.
The company plans to raise the funds by issuing up to issue 1.086 billion new ordinary shares at $1.18, adding to the existing share base of 2.93 billion shares. At $1.18, it is a slight discount of 4.8% off the last traded price of $1.24 on Feb 10.
