Frasers IPO oversubscribed, raises nearly $300 million

Frasers Hospitality Trust’s initial public offering on Friday raised S$368 million (US$295 million) and was oversubscribed 19 times.

Frasers Hospitality Trust, Singapore, has a portfolio of 12 properties located in Asia, Australia and the U.K. Analysts said investors’ reaction to the IPO reflected increasing confidence in the state of the world economy.