Frasers Property has expanded its share of the co-working space operator to 22.2% by acquiring $12.4m of additional stock in a secondary share purchase.
Two subsidiaries of real estate developer Frasers Property has paid $12.4m to increase its stake in Singapore-based workspace provider JustCo Holdings to 22.2%, Business Times reported today, citing a securities filing.
The investment was made through a secondary deal. Asset management group Tikehau Capital had disclosed yesterday that its Salvepar subsidiary had sold $20.5m of JustCo shares, making a profit of almost 600%.
JustCo is the operator of a 40-strong network of co-working spaces across the Asia-Pacific region, and also…
