Bangkok--15 Jun--SET
The Stock Exchange of Thailand (SET) will list and trade Thai Commercial Investment Fund in the Property Fund Sector, Property & Construction Group on June 16, using "TCIF" as its trading symbol, revealed SET Chief Market Officer, Issuer & Listing, Vichate Tantiwanich.
TCIF is a closed-end specific property fund with an unspecified project life. TCIF’s fund size is THB 1,960 million (USD 60.09 million), consisting of 196 million investment units with a par value of THB 10 per unit. It used the funds raised to invest solely in the land and office building of Nation Tower Building project on Bangna-Trad Road, Bangkok, which is owned by Chor.Chana-Anan Panich Co., Ltd. and has a good location, including easy access. TCIF is a freehold fund and will have full rights to the Nation Tower Building project. TCIF has a profit guarantee for the next three years from a company that is now managing the property.
TCIF offered its investment units to the general public at THB 10 per unit during March 13-15, 2010.
Krung Thai Asset Management PCL was the fund manager. TCIF's dividend payment policy is to pay no less than once a year,
and not less than 90% of net profits, excluding unrealized profits from the appraisal or verification of the appraisal of immovable property.
TCIF's major unitholders are Chor. Chana-Anan Panich Co., Ltd., holding 33.00%; TVC Investments Limited, holding 32.08%;
Thai Food Pattanakij Co., Ltd., holding 14.69%, and Ratanakeeree Co., Ltd., holding 12.82%, of issued units.
For more information on TCIF, please see the fund’s prospectus at the Securities and Exchange Commission's website,
www.sec.or.th or for general information, please visit SET's website at www.set.or.th and www.settrade.com.