Frasers Property 'not aware' of possible sale of company nor assets by controlling shareholder

Frasers Property is tightly held by Charoen Sirivadhanabhakdi

Frasers Property says it has not been informed, nor made aware of any discussions that its controlling shareholder is in the early discussions to sell the company or to divest some of the assets.

According to the Wall Street Journal on Jan 10, the possible sale by Charoen Sirivadhanabhakdi, who controls 87% of Frasers Property Tq5 via Thai Beverage Y92, is to help raise capital to pare debt accumulated in the last few years due to acquisitions.

The review is at its initial stages with no confirmed outcome.

Frasers Property shares gained 4.21% on Jan 12 to close at 99 cents.

Even so, it remains at a big discount off its net asset value of  $2.52 as at Sept 30.

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