Bangkok--4 Feb--Five W&H Communication
Frasers Property Industrial REIT Management (Thailand) Company Limited or "FIRM", as the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or "FTREIT", announced the results of the offer of 220,000,000 trust units at 14.30 Baht per trust unit, in the value of 3,146 million Baht, to the general public who are existing trust unitholders.
At the close of the offer, the offer was 127% subscribed with applications received for 279,000,000 units. This is the first time for REIT in Thailand successfully increased capital by mean of the General Mandate.
Mr. Peerapat Srisukont, Managing Director of FIRM, said "FIRM will utilize the capital received from the sales of the additional trust units for repayments of the short-term borrowings for FTREIT investments made last year. The strong response to the capital increase exercise will improve FTREIT's liquidity for trading trusts in capital markets and boost domestic and international investors' confidence in FTREIT."
"FIRM will continue to manage FTREIT in an efficient manner to deliver sustainable returns to unitholders." Mr. Peerapat concluded.