Bangkok--23 Jan--SET
The Stock Exchange of Thailand (SET) will list Hemaraj Industrial Property and Leasehold Fund, managed by MFC Asset Management pcl, worth THB 4.7 billion (approx. USD 142 million), on its main board on January 23, under the ticker "HPF”. Paveena Sriphothong, SET senior vice president, said that HPF was the first property fund to list on the Thai bourse’s REIT and Property Fund sector this year. It sold 470 million units via an initial public offering (IPO) at THB 10 per unit, with total value of THB 4.7 billion during December 16-23, 2013.Prapa Puranachote, MFC Asset Management president, said "HPF has invested in freehold and leasehold rights on the land and 104 ready-built factories on its 203 rai (32.48 hectares) covers 150,117 square meters factory space. The factories are in four locations of industrial estates, and benefit from government investment promotion. The industrial estates involved are the Eastern Seaboard Industrial Estate (Rayong), Hemaraj Eastern Seaboard Industrial Estate, Hemaraj Chonburi Industrial Estate and Hemaraj Saraburi Industrial Estate. HPF’s advantages are its prime locations near Leam Chabang deep sea port and Maptaput Industrial Estate. HPF’s continuous satisfactory performance is due to its income mainly coming from rental fees reflecting its premium market position, as well as Hemaraj’s land development expertise and commitment. We are confident the HPF listing will be a great choice for investors.” HPF is a closed-end specific property fund with no maturity. Its dividend policy is to pay no less than four times a year at 90 percent of annual net profit of its financial year. The net profit excludes unrealized gains from evaluation of property and its leasehold rights. The fund's top three unit holders after its IPOs are Hemaraj Land and Development pcl (23.12 percent), Krung Thai Bank pcl (10.00 percent) and Government Savings Bank (10.00 percent).For more information, please see HPF property fund'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”
For more information, please visit www.set.or.th
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