• Frasers launches IPO

A dozen hotels and serviced residences in Asia, including the InterContinental Singapore, are to be floated in Singapore. The IPO of properties owned by Frasers Centrepoint and property group TCC will raise up to SGD448m, reports Reuters.
The properties, from companies controlled by Thai billionaire Charoen Sirivadhanabhakdi, will be placed in vehicle Frasers Hospitality Trust. The float will sell shares representing between 30 and 40% of the trust’s assets.
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