Bangkok--30 Mar--SET
The Stock Exchange of Thailand (SET) will have its twentieth second property fund on March 31, when it begins trading Nichada Thani Property Fund 2. This listing will be in the Property Fund Sector of the Property and Construction Group, using “MNIT2” as its trading symbol, SET Chief Marketing Officer- Issuer & Listing Vichet Tantiwanich said.
The fund has a total value of THB1,004.70 million, consisting of 100.47 million investment units with a par value of THB10 each. At its initial public offering (IPO) during November 25- December 2, 2008, MFC Asset Management PCL (MFC), which is MNIT2’s fund manager, offered all investment units to the general public at THB10 each.
MNIT2 is non-redeemable, with an indefinite life and specific property fund. The company will invest in land and 58 single houses of The Regent at Nichada Thani residential project within Nichada Thani , Pakkret, Nonthaburi. The fund will have Nichada Property Co., Ltd. operate the project.
MNIT 2’s policy is to pay dividends not over four times a year, up to 90% of annual net profits. The fund may pay dividends from accumulated net profits, providing that so doing will not cause the fund to have an accumulated loss.
MNIT2’s major shareholders are Nichada Property Fund, Government Saving Bank and Mr. Lek Nana’s group, which hold stakes of 30.85%, 19.91% and 6.89% respectively.
For more information on MNIT2, please visit www.sec.or.th, www.set.or.th, and www.settrade.com
Press office, please contact Public Relations Unit, the Corporate Communications Dept.:
Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 /
Panitee Chatpolarak Tel: 0-2229-2792