Frasers redeems, converts series A convertible perpetual preferreds

By Marisa Wong

Madison, Wis., Jan. 2 - Frasers Commercial Trust redeemed and canceled 162,567,826 of its series A convertible perpetual preferred units on Jan. 2, according to an announcement by trust manager Frasers Centrepoint Asset Management (Commercial) Ltd.

Also on Wednesday, Frasers Commercial Trust issued new ordinary units upon conversion of 7,437,501 of the series A convertible perpetual preferreds. The preferreds were converted into 6,278,918 new ordinary units, based on a conversion price of S$1.1845 per conversion unit.

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

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