Frasers Centrepoint Trust (SGX:J69U) saw its stock price plummet 6.39% in intraday trading on Monday, following the announcement of a significant private placement. The trust issued 105,264,000 new units at an issue price of SG$2.09 each, as reported in a filing with the Singapore Exchange.
The private placement has increased the total number of units in Frasers Centrepoint Trust to 1,923,517,220. This substantial increase in the number of outstanding units has likely contributed to the downward pressure on the stock price, as it represents a dilution of existing shareholders' stakes.
Investors appear to be reacting negatively to this news, as reflected in the sharp decline in the trust's share price. The market's response suggests concerns about the potential impact of the private placement on the trust's value per unit and future distributions to unitholders.
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