Frasers Hospitality Trust to Delist: All You Need to Know About the Privatisation and Scheme Payout

Frasers Hospitality Trust (FHT) is set for a significant transformation, following the announcement of its privatisation, the successful payment of the scheme consideration, and its imminent delisting from the Singapore Exchange (SGX-ST). This development is expected to have a major impact on investors, with implications for share value and future liquidity.

Key Points in the Report

• Privatisation Scheme Completed: The privatisation of FHT has been completed via a trust scheme of arrangement, with all stapled securities acquired by Frasers Property Hospitality Trust Holdings Pte. Ltd. (the “Offeror”).
• Scheme Consideration Paid: Payment to entitled stapled securityholders was effected on 30 September 2025.
• Delisting Date Announced: FHT will be delisted from the SGX-ST effective 9:00 a.m. on 6 October 2025.
• Exclusions from Offer: The acquisition excludes stapled securities already held by TCC Group Investments Limited, Frasers Property Limited, and their subsidiaries.
• Regulatory Clearance: The scheme was sanctioned by the Singapore courts and complied with the Singapore Code on Take-overs and Mergers.
• Responsibility Statements: The directors of the Offeror and the FHT Managers have affirmed the accuracy of the information provided, with appropriate disclaimers on third-party or extracted content.

What Shareholders Need to Know (Potentially Price-Sensitive Information)

• Final Trading and Delisting: FHT securities will be removed from the SGX-ST official list on 6 October 2025. Investors will no longer be able to trade FHT on the exchange post-delisting.
• Scheme Payment: All entitled securityholders should have received their scheme consideration by 30 September 2025. This payment marks the completion of the acquisition process and signals the end of FHT as a listed entity.
• Change in Investment Status: With privatisation completed and delisting imminent, FHT transitions from a publicly traded investment to a privately held entity. This move impacts the liquidity and market valuation of any remaining interests in FHT.
• No Further Public Disclosures: After delisting, FHT will no longer be required to make public disclosures or comply with SGX listing rules, reducing transparency for minority investors.
• Contact Points for Queries: Investors with questions about the scheme, acquisition, or payment can contact the Offeror, FHT Managers, or their financial advisers (Merrill Lynch, DBS, Maybank Securities, UOB, OCBC) for further clarification.

Detailed Timeline and Process Recap

• July 24, 2025: Scheme document dispatched to FHT stapled securityholders.
• August 15, 2025: Securityholders approved the scheme at the Scheme Meeting.
• September 3, 2025: Singapore courts granted the order sanctioning the scheme.
• September 23, 2025: Joint announcement confirming the scheme’s effective date.
• September 30, 2025: Scheme consideration paid to entitled securityholders; FHT stapled securities acquired by the Offeror.
• October 6, 2025 (9:00 a.m.): FHT to be officially delisted from SGX-ST.

Investor Impact and Strategic Considerations

The privatisation and delisting are highly price-sensitive events. Shareholders who have not acted may lose access to public market liquidity, and there will be no further opportunity to trade FHT securities on the SGX. The scheme consideration is the final payout for FHT’s public investors.

The move also reflects a broader trend of consolidation and privatisation in the Singapore REIT and business trust sector, as major shareholders and sponsors seek greater control and potential restructuring flexibility away from public market scrutiny.

Investors should ensure they have received their scheme consideration and review their portfolios in light of FHT’s delisting and privatisation. Any further queries should be directed to the entities and advisers listed in the joint announcement.

Disclaimer

The information provided in this article is for informational purposes only and does not constitute financial advice or an offer to buy or sell any securities. Investors should consult their financial advisers for personalised advice. The author and publisher accept no liability for any loss arising from any use of this information.

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