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Frasers Logistics lists preferential shares

Frasers Logistics & Industrial Trust issued and listed 152,153,437 preferential new units following its preferential offering that raised gross proceeds of roughly S$147.1 million.

The company raised overall raised gross proceeds of roughly S$476.0 million from equity fund raising, with roughly S$328.9 million from a private placement and the remainder from the preferential offering.

The gross proceeds from the private placement were fully used to partly finance a purchase consideration and pay certain fees and other professional expenses incurred in connection with the private placement.

Roughly S$143.0 million of the gross proceeds from the preferential offering were used to repay a bridge loan, and roughly S$4.1 million is marked for payment of the balance of fees and expenses.

As of June 8, US$1 was equivalent to S$1.34.