Bangkok--Aug 22--SET
The SET has approved the listing of the CPN Retail Growth Property Fund on the Exchange. The Fund will commence trading on August 23, 2005. The project is comprised of 1.09 bln. unit trusts, each with a par of THB10.00, totaling THB10.91 bln. (approx. USD266.22 mln.). These units will be listed in the Property & Construction Industry Group, using “CPNRF” as their trading symbol.
CPNRF is the 7th listed property fund on the SET. It will initially invest the Central Plaza Rama II Shopping Complex Project and the Central Plaza Ratchada-Rama III Shopping Complex Project. Total investment in these two projects is worth THB10.61 bln. These projects will generate incomes from rental and service fees, advertising space and utilities services for the tenants.
CPNRF is a specific fund with an indefinite project life. TMB Asset Management Co. Ltd. formed and manages the CPNRF. The company sold CPNRF unit trusts to the general public during August 1-9, 2005, at THB10.00 per unit. Citibank N.A. (Bangkok) is the Fund’s trustee.
The Fund’s policy is to pay dividends to unitholders of not less than 90% of its annual net profits, no more than 4 times a year. Such net profits and accumulated profits shall be as actually derived and shall not include profits or losses which do not actually directly arise from the appraisal of real properties, securities and/or assets of the Fund. Also, it shall not include the Fund’s establishment and offering expenses (if any), which are booked as payable expenses or amortized expenses for the period expected to be benefited from such expenses.
For future investment, the Fund will primarily concentrate its investments in, or acquisition of, department stores and/or retail properties in which Central Pattana Pcl. have ownership and/or possession right.
For more information on CPNRF, please browse the SET’s website at www.set.or.th.
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.