Bangkok--8 Jan--SET
The Stock Exchange of Thailand (SET) will list TICON Freehold and Leasehold Real Estate Investment Trust (REIT) worth THB 3.43 billion (approx. USD 103.79 million) on its main board on January 9 being the first REIT listed on in SET on the 2015, under the ticker symbol “TREIT”.
SET Executive Vice President Chanitr Charnchainarong said that TREIT would list and start trading in the Thai bourse’s Property Fund & REITs sector THB 10.00 per unit during December 8-11, 2014, with total value of THB 3.43 billion. TREIT is managed by TICON Management Co., Ltd. (TMAN), a subsidiary of TICON Industrial Connection pcl (TICON). BBL Asset Management Co., Ltd. is the trustee and Bangkok Bank pcl is its financial advisor and underwriter.
TREIT has invested in land, warehouses and factories of TICON Group, totaling 45 units covering 214,523 square meters on 306 rai land area, consisting of (1) freehold, leasehold and sub-leasehold rights of 25 units of land together with warehouses of TICON, with total area of 160,523 square meters (2) freehold ownership of 20 units of land and warehouses of TICON Logistics Park Co., Ltd. (TPARK), with total area of 54,000 square meters, both having 90 percent occupancy.
TMAN Managing Director Amorn Chulalaksananukul said that TREIT would invest on warehouses and factories for rent on prime locations with an average age of buildings less than four years. The main tenants of these properties are leading companies in logistics, consumer products and automotive industries. Managed by two professional firms, namely TICON and TPARK, with expertise in managing warehouses and factories for rent. Topped off with TICON‘s strategic plan for business expansion in the near future, TREIT could provide good returns for the trust unit holders in the long run.
TREIT’s dividend policy is to pay up to twice a year at no less than 90 percent of adjusted net profit of its financial year. TREIT’s three major unit holders after its IPO are Social Security Office (14.60 percent), TPARK (12 percent) and Mitsui & Co. (Asia Pacific) Pte. Ltd. (10.22 percent).
For more information, please see TREIT’s prospectus at the Securities and Exchange Commission's website at www.sec.or.th , and www.ticon.co.th , as well as general information on SET's website at www.set.or.th.
For more information, please contact S-E-T Call Center +66 (0) 2229 2222.
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.:
Arada Kultawanich, tel: +66 (0) 2229 2796/ Kanokwan Khemmalai, tel: +66 (0) 2229 2048.