Bangkok--1 Mar--SET
The Stock Exchange of Thailand (SET) will list UOB Freehold Eight Thonglor, managed by UOB Asset Management (Thai) Co., Ltd., with a size of THB 2.37 billion (approx. USD 77.2 million) on its main board, under the ticker symbol "UOB8TF," on March 5. UOB8TF, a specific property fund, invests in a grade A freehold commercial property in Bangkok’s central business district. The fund seeks to receive a steady income plus capital gains from the price appreciation of the property.
“The fund is the first property fund listing on the Thai bourse this year. It sold its initial public offering (IPO) at THB 10 each for 237 million investment units with a total worth of THB 2.37 billion between January 23 and February 3. UOB Asset Management (Thai) Co., Ltd was its fund manager," said SET’s Executive Vice President Chanitr Charnchainarong.
Vana Bulbon, CEO of UOB Asset Management (Thai) Co., Ltd, said: "UOB8TF bought a freehold plot from Eight Thonglor Residences, which is a mixed-use commercial property comprised of retail spaces and serviced apartments. As Thonglor is in a popular foreign residence area and key business area, we believe the fund will be a good choice for investors, as they will have the opportunity to get returns in the form of dividends and rising value of assets.”
UOB8TF invests in Eight Thonglor Residences. Its dividend policy is to pay at least once a year at a rate of no less than 90 percent of net profit, excluding unrealized gains from auditing of property appraisals of leases during the related accounting period. The fund's top three shareholders after its IPO are Government Savings Bank (21 percent), SCB Life Assurance pcl (4.22 percent), and Kamol Chuengcharoendee and Julie-Anne Phongsri (1.69 percent).
For more information, please see UOB8TF's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information on the SET's website at www.set.or.th.