First Sponsor Group Limited said on Aug, 3 2026 that it plans a renounceable, non-underwritten rights issue of up to 307.97 million Series 3 Tranche 2 4.85% perpetual convertible capital securities at S$1.08 apiece, to raise as much as 332.61 million Singapore dollars.

The offer will be on the basis of one convertible security for every five existing shares held on a record date to be announced. The issue price and initial conversion price are both S$1.08, representing a 13.09% premium to the volume-weighted average and closing price of S$0.955 on Jul, 30 2026. The securities may be converted into new shares at any time, with no additional cash payment.

Once issued, the new tranche will be consolidated with the S$243.98 million Series 3 Tranche 1 perpetual convertible securities launched in Sep, 2024. Distributions are set at 4.85% per annum, payable semi-annually, and may be deferred at the company’s discretion.

Proceeds will be used primarily to repay borrowings tied to the group’s recent acquisitions of stakes in the Crowne Plaza Amsterdam South and Andaz Amsterdam Prinsengracht hotels (about S$145.5 million), settle debt for the Dutch Bilderberg Portfolio purchase (about S$13.3 million) and finance further expansion in property holding, development and financing businesses. Any balance may be deployed for additional growth opportunities.

United Overseas Bank Limited is the manager of the offer. The exercise is not underwritten; however, major shareholders First Sponsor Capital, Tai Tak Asia Properties and Chengdu Tianfu Properties—collectively holding 47.6% of the company—have irrevocably undertaken to subscribe for their full entitlements.

The rights issue is subject to approval in principle from Singapore Exchange and the lodgment of an offer information statement with the Monetary Authority of Singapore. The company has not conducted any other equity fund-raising in the past 12 months.

Shareholders should note that completion of the transaction remains conditional.