Frasers Property and FCT to raise stakes in PGIM Real Estate Asia Retail Fund

FRASERS Property Limited and Frasers Centrepoint Trust , the real estate investment trust it sponsors, are raising their stakes in PGIM Real Estate Asia Retail Fund, shortly after making their first round of investments respectively.

Frasers Property, through another subsidiary Frasers Property Crystal, had earlier entered into an agreement with a shareholder of PGIM Real Estate Asia Retail Fund to acquire a 17.8 per cent stake, or some 94,013 shares, in the fund for S$356.4 million. Meanwhile, Frasers Centrepoint Trust is also increasing its stake in the fund from about 17.13 per cent to 18.8 per cent through its wholly own subsidiary FCT Holdings , said FCT’s trust manager in a separate bourse filing also on Thursday morning.

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