Frasers Hospitality Trust (SG:ACV) has released an update.
Frasers Hospitality Trust has announced that its Australian subsidiary, FHT Australia Trust, may no longer meet the conditions for managed investment trust status for FY2024 due to a share swap deal. The deal caused TCC Assets Limited’s effective stake in Frasers Property Limited to rise above the threshold, indirectly affecting the subsidiary’s compliance with the 10% foreign resident individual test. This change was a result of corporate actions beyond the control of Frasers Hospitality REIT and its manager.
For further insights into SG:ACV stock, check out TipRanks’ Stock Analysis page.
