F&N to spin off property arm Frasers Centrepoint to its own shareholders
Conglomerate Fraser and Neave (F&N) will list its property arm Frasers Centrepoint Limited (FCL) on the Singapore Exchange mainboard.
Shareholders will get a dividend in-specie distribution of two FCL shares for every F&N share they own.
The listing of FCL is expected to happen in November or December after an extraordinary general meeting.
Following the dividend in-specie distribution, F&N will no longer have an interest in FCL.