Frasers Logistics & Industrial Trust to raise $464.3m in SGX IPO

It will also raise $804m from cornerstone investors.

Frasers Logistics & Industrial Trust seeks to raise a total of $1.27 billion in its initial public offering in Singapore.

FLT's IPO will be made up of a total of 521,749,000 units. Of this offering, 80 million shares are open to the public while 441.75 million are reserved for institutional investors, directors, management, employees and business associates of Frasers Centrepoint, and the REIT manager.

Apart from the IPO, the trust will also raise $724 million from the issuance of sponsor subscription units and cornerstone units. It will also issue $80 million in shares to a strategic investor, TCC Group Investments.

FLT has a forecasted distribution yield of 7.3% for FY17.