Frasers L&C Tr    Last:0.985    -0.005

Frasers Logistic & Industrial Trust IPO

Sorry folks - this is a keeper for me. Freehold mah. Happy with the conversion ratios for FCOT and will add to my FLT with some cash back. Lovely.

 

Disgruntled unitholders need a shock to wake them up lah. See, closed back to $1.24.
Tomolo will rise liao 

chengwh1      ( Date: 03-Dec-2019 15:19) Posted: Bad laksa,... look what you have done,.. after your strong posting, nobody said anything anymore !! We started this thing with calculations and all,... If nobody feeds back, nobody comments, we stand to lose together,.. laksaman57      ( Date: 03-Dec-2019 11:56) Posted: SELL, Disgruntled sellers, SELL 🙏

 

Bad laksa,... look what you have done,.. after your strong posting, nobody said anything anymore !!

We started this thing with calculations and all,...

If nobody feeds back, nobody comments, we stand to lose together,..

laksaman57      ( Date: 03-Dec-2019 11:56) Posted: SELL, Disgruntled sellers, SELL 🙏 laksaman57      ( Date: 03-Dec-2019 11:50) Posted: Only when disgruntled FLT unitholders sell will there be opportunity to accumulate 😉

 

SELL, Disgruntled sellers, SELL 🙏

laksaman57      ( Date: 03-Dec-2019 11:50) Posted: Only when disgruntled FLT unitholders sell will there be opportunity to accumulate 😉 laksaman57      ( Date: 03-Dec-2019 11:49) Posted: Ascott/Ascendas 'synergy' will be their weakness as they are too focus on hospitality. FLT/FCOT 'non synergy' will be their strength as they are diversify.

 

Only when disgruntled FLT unitholders sell will there be opportunity to accumulate 😉

laksaman57      ( Date: 03-Dec-2019 11:49) Posted: Ascott/Ascendas 'synergy' will be their weakness as they are too focus on hospitality. FLT/FCOT 'non synergy' will be their strength as they are diversify. subaru      ( Date: 03-Dec-2019 11:34) Posted: ascott reit and ascendas hospitality trust - the merger is better received, due to more synergy perhaps. The synergy of these two is not so obvious? thinking about oue com and oue hospitality trust merger

 

Ascott/Ascendas 'synergy' will be their weakness as they are too focus on hospitality.
FLT/FCOT 'non synergy' will be their strength as they are diversify.

subaru      ( Date: 03-Dec-2019 11:34) Posted: ascott reit and ascendas hospitality trust - the merger is better received, due to more synergy perhaps. The synergy of these two is not so obvious? thinking about oue com and oue hospitality trust merger. laksaman57      ( Date: 03-Dec-2019 10:51) Posted: No lah It's just some disgruntled unitholders not happy so sell their holding. Same pattern in ESR reit when they announced acquiring Viva. It will recover stronger💪 Opportunity to bu

 

ascott reit and ascendas hospitality trust - the merger is better received, due to more synergy perhaps. The synergy of these two is not so obvious? thinking about oue com and oue hospitality trust merger.

laksaman57      ( Date: 03-Dec-2019 10:51) Posted: No lah It's just some disgruntled unitholders not happy so sell their holding. Same pattern in ESR reit when they announced acquiring Viva. It will recover stronger💪 Opportunity to buy subaru      ( Date: 03-Dec-2019 10:08) Posted: market does not like the merger

 

... hence my earlier sentence : Actually bro,.. no need to queue so early,.. many things can take place between now and end-Mr/Apr 2020,... at worst case, this merger may fall-through, but highly unlikely,....

But it' s okay-lar for those who have bought,.. for one, I am confident of the long term prospects of this REIT, relatively vs others we have in the mkt,.. we can' t pour eveything into just one or two REITs,...need to diversify out across a few REITs - this is one of them,...

Tq for the rapid and good deliberations over the weekend, bros,... hoping our actions and initiatives here can help all unitholders decide on a good move for their holdings. We huat together,...

Majulah,....

john_ric      ( Date: 03-Dec-2019 10:40) Posted: Now 1.22. Luckily I sold yesterday at 1.26. Mrket is really unpredictable.

 

No lah
It's just some disgruntled unitholders not happy so sell their holding. Same pattern in ESR reit when they announced acquiring Viva. It will recover stronger💪
Opportunity to buy

subaru      ( Date: 03-Dec-2019 10:08) Posted: market does not like the merger? laksaman57      ( Date: 02-Dec-2019 20:06) Posted: Flat very good liao. May dip below $1.24 prior to final merger date as disgruntled unitholders sell

 

Now 1.22.
Luckily I sold yesterday at 1.26.
Mrket is really unpredictable.

 

market does not like the merger?

laksaman57      ( Date: 02-Dec-2019 20:06) Posted: Flat very good liao. May dip below $1.24 prior to final merger date as disgruntled unitholders sell. john_ric      ( Date: 02-Dec-2019 19:23) Posted: Errm. Closing is flat at 1.24.

 

Flat very good liao. May dip below $1.24 prior to final merger date as disgruntled unitholders sell.

john_ric      ( Date: 02-Dec-2019 19:23) Posted: Errm. Closing is flat at 1.24.

 

Nothing in life is guaranteed. But it always will.

subaru      ( Date: 02-Dec-2019 13:15) Posted: Not guaranteed that a lower P/B ratio of FLT will  attract greater institutional investor interest and justify a higher post merger unit price.  laksaman57      ( Date: 30-Nov-2019 21:32) Posted: FLT acquiring FCOT at lasted traded price of $1.67 which glaringly close to its NAV will definitely help normalised its present high price-to-nav valuation and attract greater institutional investor interest and justify a higher post merger unit price. It will be a WIN-WIN just like ESR/Viva merger.

 

Errm. Closing is flat at 1.24.

 

POSTED BY:  LESLIE SHAFFER  MONDAY, 2 DECEMBER 2019 08:49:38

Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) announced Monday they plan to merge in a S$1.54 billion deal, creating a diversified S$5.7 billion portfolio of industrial, office, business park and commercial assets across Asia Pacific, Europe and the U.K.

Under the deal, Frasers Logistics Trust will acquire all units of Frasers Commercial Trust for S$1.68 for each FCOT unit, with unitholders receiving S$0.151 in cash and 1.233 FLT units at an issue price of S$1.24 each, the REITs said in a filing to SGX.

The total consideration is around S$1.54 billion, including around S$1.38.1 million in cash and 1.13 million units, the REITs said.

The pricing is a premium of 0.6 percent to FCOT&rsquo s last traded price on 27 November, and a 3.5 percent premium to its one-month volume weighted average price, the REITs said.

The combined REITs are expected to be among the top-10 largest Singapore REITs by market capitalization in the FTSE EPRA/NAREIT Index, giving it greater representation in the index, the filing said, adding it will have around 300 tenants across 98 properties in five countries.

In conjunction with the merger, FLT has proposed acquiring 50 percent of Farnborough Business Park from a wholly owned subsidiary of Frasers Property for around 90.1 million pounds, or around S$157.7 million FCOT currently indirectly holds the remaining 50 percent of the business park and once the the deal is completed, it will be wholly owned by the combined REITs, the filing said.

Robert Wallace, CEO of Frasers Logistics Trust&rsquo s manager, said the deal would allow the combined REIT to provide business services to a wider customer base.

&ldquo The merger will be a win-win transaction for both FLT and FCOT unitholders, delivering DPU [distribution per unit] accretion and greater growth prospects,&rdquo Wallace said in the statement. &ldquo It enhances our financial capacity and flexibility to pursue acquisitions through our expanded mandate and a [right of first refusal] pipeline in excess of S$5.0 billion.&rdquo

The merger is expected to result in 2.2 percent DPU accretion for FLT unitholders and 4.2 percent DPU accretion for FCOT unitholders, on a pro forma basis, the filing said.

After the deal is completed, the REITs&rsquo sponsor and related companies are expected to hold around 21.9 percent of the combined REIT, compared with currently holding around 19.6 percent of FLT and 25.9 percent of FCOT, the filing said.

The merger is conditional on approval from both REITs&rsquo unitholders and regulatory approval, the filing said.

Merrill Lynch (Singapore) is the sole financial adviser to FLT&rsquo s manager, while DBS Bank is the sole financial adviser to FCOT&rsquo s manager, the filing said.

 

you are right.

chengwh1      ( Date: 02-Dec-2019 13:58) Posted: Actually bro,.. no need to queue so early,.. many things can take place between now and end-Mr/Apr 2020,... at worst case, this merger may fall-through, but highly unlikely,.... john_ric      ( Date: 02-Dec-2019 13:52) Posted: price 1.27 now after lifting of H

 

1.30 today? Huat ah!

 

Actually bro,.. no need to queue so early,.. many things can take place between now and end-Mr/Apr 2020,... at worst case, this merger may fall-through, but highly unlikely,....

john_ric      ( Date: 02-Dec-2019 13:52) Posted: price 1.27 now after lifting of H

 

Tq bro,... if you have the time, how much do you reckon the nav per unit would be FLT-post ?

subaru      ( Date: 02-Dec-2019 13:49) Posted: i meant FLT-post. chengwh1      ( Date: 02-Dec-2019 13:27) Posted: Hmm,... I checked the DPU payout ilustrations for FLT (pg 12) and FCOT (pg 12) in the Presentation Slides for this merger + Acquisition. I noticed for FLT, the final dpu reached post-merger and post-asset acquisition  is 7.38c. But for FCOT, the final dpu reached post-merger and post-asset acquisition is a big 10c. Shouldn' t both of the final dpu' s reached be almost the same ?  Why is one at 7.38c and another at 10c ? I do understand this is proforma dpu based on workings against earlier audited results, but a 36% difference ? So,.. what is the actual dpu reached post-both events after end-March/Apr 2020 ? I think we need to calculate the nav post-both events, and we can predict final sp that may be reached from here. I' m not too sure abt FCOT, but I think it would be advantageous for FLT

 

price 1.27 now after lifting of H