Frasers Hospitality Trust Delisted: What Investors Need to Know After Landmark Privatisation

Key Points:

• Frasers Hospitality Trust (FHT) has been officially delisted from the Singapore Exchange (SGX-ST) as of 9:00 a.m. on 6 October 2025.
• The delisting comes after a proposed privatisation via a trust scheme of arrangement.
• Post-delisting, FHT will be restructured into two private sub-trusts.
• FH-REIT will cease to be an authorised collective investment scheme.
• FH-BT will no longer be a registered business trust.

Privatisation and Delisting: What It Means for Shareholders

The delisting and privatisation of Frasers Hospitality Trust mark a significant transition for existing shareholders. This move effectively transforms FHT from a publicly traded stapled security, comprising both the Frasers Hospitality Real Estate Investment Trust (FH-REIT) and Frasers Hospitality Business Trust (FH-BT), to a privately held structure.

Shareholders should note the following critical implications:

• Trading Halt: As of the delisting date, trading of FHT stapled securities on SGX-ST is no longer possible. Investors who held units prior to the delisting are now invested in private sub-trusts.
• Change in Regulatory Status: With the delisting, FH-REIT is no longer regulated as a collective investment scheme and FH-BT loses its status as a registered business trust. This alters the regulatory oversight and reporting obligations previously required by the SGX and Monetary Authority of Singapore.
• Potential Impact on Valuation and Liquidity: The absence of public trading means units are now illiquid, making it difficult for investors to monetise their holdings or ascertain real-time valuations. This is highly price-sensitive information as liquidity and transparency, once a key feature of FHT, are no longer present.
• Privatisation Considerations: The article does not specify the final privatisation offer price or terms. Investors should refer to prior circulars or announcements for details about any cash consideration or exchange of units offered during the privatisation scheme. If the offer price was at a premium or discount to recent trading prices, this would have a direct impact on the value realised by shareholders.

Background and Acknowledgments

FHT was first listed on SGX-ST on 14 July 2014, providing investors with exposure to a portfolio of hospitality assets. The FHT Managers, comprising Frasers Hospitality Asset Management Pte. Ltd. (FH-REIT Manager) and Frasers Hospitality Trust Management Pte. Ltd. (FH-BT Trustee-Manager), have expressed gratitude to all stapled securityholders for their support during the REIT’s public tenure.

Summary for Investors

This delisting and restructuring represent a critical event for FHT investors. The transition to private sub-trusts fundamentally changes the risk, liquidity, and regulatory profile of their investment. Investors should review any communications regarding the scheme consideration and seek advice on their rights and potential next steps, especially given the potential for significant changes in the value and tradability of their holdings.

Potential Price-Moving Implications

• Loss of liquidity could result in discounts in any private market transactions.
• Change in regulatory status may impact future reporting and governance standards.
• Privatisation offer price (not detailed here) is crucial for assessing whether the scheme was value-accretive or value-destructive for investors.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should consult their own professional advisers before making any investment decisions in relation to the delisting or privatisation of Frasers Hospitality Trust.

View Frasers HTrust Historical chart here