F&N rises to 5-week high on property spin off: Singapore mover | Bangkok Post: Most recent

Most Recent >

F&N boosted by property spin off plan

- +

Fraser & Neave Ltd (F&N), controlled by Thailand's richest man Charoen Sirivadhanabhakdi, climbed the most in five weeks on plans to spin off its property business through a Singapore listing at the end of the year. 

Shares of the 130-year-old company with investments from food and beverage to publishing increased as much as 5.1% and rose 2% to S$5.60 as of 9.49am in Singapore trading, set for the biggest jump since July 23. The company will offer two shares of its unit Frasers Centrepoint Ltd. for every stock held, it said in a statement on Tuesday.

F&N is spinning off a unit with S$9 billion (US$7 billion) of assets as of June, allowing both companies to focus on their separate expansion strategies. The move follows the S$13.8 billion takeover earlier this year by billionaire Charoen, aged 69.

Keep up-to-date with the latest on coup d'etat with Bangkok Post SMS News. Call *451391000 to subscribe – 39 baht/month (7 days free, available in Thailand only) Bangkok Post SMS News: Deliver only trustworthy news on SMS

This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.

0 people commented about the above

Readers are urged not to submit comments that may cause legal dispute including slanderous, vulgar or violent language, incorrectly spelt names, discuss moderation action, quotes with no source or anything deemed critical of the monarchy. More information in our terms of use.

Please use our forum for more candid, lengthy, conversational and open discussion between one another.

  • Latest
  • Oldest
  • Most replied to
  • Most liked
  • Most disliked

    Click here to view more comments