Frasers trust lifts conversion price on convertible preferred units

By Marisa Wong

Madison, Wis., Jan. 28 - Frasers Centrepoint Asset Management (Commercial) Ltd. announced that the conversion price of Frasers Commercial Trust's series A convertible perpetual preferred units will be increased.

The conversion price will be increased to S$1.1845 from S$0.2369, effective Feb. 11.

The price adjustment is the result of a proposed consolidation of five Frasers Commercial Trust units into one.

Frasers Centrepoint Ltd., a wholly owned subsidiary of Frasers and Neave, Ltd., is a residential property developer and retail mall owner and operator in Singapore.

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