SINGAPORE (Sept 14): Daiwa says the fast approaching rights issue of Frasers Hospitality Trust (FHT), but dilutive, could enhance its free buoy and valuations.
This echoes the slants of the trust’s administration amid its preparation held for examiners on Sept 13.
To recap, FHT is attempted a rights issue to raise its proposed procurement of Novotel Melbourne on Collins (NMOC), in addition to 72 auto stop parts, for an aggregate thought of A$237 million ($245.4 million). The rights issue sum is at a 23.7% rebate to the trust’s end cost on Sept 9.
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