First Sponsor Group Limited announced on Aug, 03 2026 a renounceable, non-underwritten rights issue of up to 332.6 million Singapore dollars principal amount of 4.85 percent perpetual convertible capital securities, termed “Series 3 Tranche 2”.

The securities will be offered at 100 percent of par, or 1.08 Singapore dollars each, on the basis of one security for every five existing shares held on the record date. The conversion price is also 1.08 Singapore dollars per share and may be adjusted for corporate actions.

Once issued, the new tranche will merge with the 243.9 million Singapore dollars Series 3 Tranche 1 securities placed in Sep, 30 2024. United Overseas Bank Limited is acting as manager; no underwriting arrangements have been made.

If fully subscribed, the issue could create up to 308 million new securities, convertible into the same number of shares. Major shareholders First Sponsor Capital, Tai Tak Asia Properties and Chengdu Tianfu Properties, which collectively own 47.6 percent of the company, have irrevocably undertaken to take up their full entitlements.

Net proceeds, estimated at about 331.8 million Singapore dollars under the full-subscription scenario, will be used to (i) repay borrowings tied to recent hotel acquisitions in Amsterdam and the Netherlands, and (ii) fund the group’s ongoing expansion in property holding, development and financing.

Applications will be made to list both the new securities and any resulting conversion shares on the Singapore Exchange Mainboard, subject to regulatory approval and the lodgment of the offer information statement with the Monetary Authority of Singapore.