Frasers Centrepoint Trust has successfully completed a private placement of new units worth S$220 million, attracting strong market demand with an oversubscription rate of approximately four times.

Frasers Cpt Tr Management announced before the market opened on Wednesday (March 26) that there was strong subscription demand from both new and existing institutional, qualified and other investors, leading to an increase in the size of the private placement from S$200 million to S$220 million.

The issue price of the new units in the private placement is S$2.090 per unit, which is 2.9% lower than the adjusted volume weighted average price (Adjusted VWAP) of S$2.1521. The new units from the private placement are expected to be issued around April 4.