Frasers Centrepoint Trust (SGX:J69U), through its manager and underwriters, agreed to increase the issue size of the private placement by about SG$20 million, taking the amount of the equity fund raising to roughly SG$421.3 million.

The private placement was 4.0 times covered including the upsize option and 4.4 times covered excluding the upsize option, according to a filing with the Singapore Exchange on Wednesday.

The issue price per unit has been fixed at SG$2.09 per private placement unit while the issue price per preferential offering unit has been fixed at SG$2.05 per unit.

Trading of the private placement units is expected to commence on April 4.

Shares of the trust were down over 2% in recent trading.