Frasers Hospitality Trust, backed by Thailand’s richest man, plans to offer a dividend yield of 7 percent for the 2015 financial year in its Singapore initial public offering, people with knowledge of the matter said.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Fraser & Neave Ltd. rose above Thai billionaire Charoen Sirivadhanabhakdi’s offer price as investors speculated that the Singapore-based company may attract a higher bid and Heineken NV considered its next step in a two-month battle to gain control of F&N’s beer business.
Thai Beverage Pcl’s credit rating was cut to junk by Standard & Poor’s, which cited concern about the debt and cash flow of the group controlled by Thai billionaire Charoen Sirivadhanabhakdi after the purchase of Fraser & Neave Ltd.
Thai billionaire Charoen Sirivadhanabhakdi made a S$9 billion ($7.3 billion) bid for the 70 percent of Fraser & Neave Ltd. he does not control, potentially blocking Heineken NV from buying the company’s beer unit.