Bangkok--25 Jun--SET
The Stock Exchange of Thailand (SET) will list Crystal Retail Growth Leasehold Property Fund, with a size of THB 4.13 billion (approx. USD 137.8 million), on its main board on June 27, under the ticker "CRYSTAL", which is the third property fund listing on the Thai bourse this year.
Paveena Sriphothong, SET Senior Vice President and Group Head, Issuer & Listing, said: “CRYSTAL will be listed and traded under the Property Fund Sector on June 27, as a part of the main bourse’s Property & Construction Industry. CRYSTAL sold 390 million units via initial public offering (IPO) at THB 10.60 per unit, with total worth of THB 4.13 billion (approx. USD 137.8 million), between June 7 and 17. SCB Asset Management Company Limited (SCBAM) is the fund manager.”
Jotika Savanananda, President of SCBAM, revealed that “CRYSTAL, invests in the 30-year leasehold rights a portion of land and parts of the buildings, totaling 42,700 square meters, located along Ekamai-Ramindra Road, Bangkok, namely The Crystal, which is a lifestyle community mall, and Crystal Design Center (CDC), a one-stop-shop home decor and design service center. The investment covers the ownership rights of furniture, equipment and all systems within the projects as well as the right to utilize the parking space, which the fund has not invested in. With project manager K.E. Retail Company Limited's property management expertise, CRYSTAL is expecting further growth from adjustment of rental fees and additional investment plans for both The Crystal and CDC.”
CRYSTAL’s dividend policy is to pay at least two times a year, at no less than 90 percent of net profit, excluding unrealized gains from auditing property reappraisals of lease during the related accounting period.
CRYSTAL's top three unitholders after its IPO are KE Land Group 30.48% (Benjakit Development Company Limited 20.48% and Kiat Sahamit Company Limited 10.00%), Social Security Office 10.29% and Muang Thai Life Assurance Public Company Limited 6.75%
For more information, please see CRYSTAL’s prospectus at the Securities and Exchange Commission’s website at www.sec.or.th and general information on SET’s website at www.set.or.th
SET Group "Matching Your Right Financial Opportunities"