Frasers Property Industrial REIT Management (Thailand) Company Limited, or “FIRM”, as the manager of FTREIT, disclosed that the Office of the Securities and Exchange Commission (SEC) has granted approval for FIRM to issue additional trust units for the third capital increase of FTREIT.
The total number of additional trust units issued will be up to 241,000,000 units worth approximately 2.8 billion Baht, by means of General Mandate and will be offered to general public who are existing trust unitholders.
FIRM will utilise the capital received from the sale of the additional trust units for the purpose of repayment of the borrowings utilised as necessity for the investment in the additional assets of FTREIT prior to obtaining the proceeds from the capital increase to make such investment and to maintain the appropriate ratio of FTREIT’s interest bearing debt to total asset value.
Unitholders whose names exist in the registration book on the record date will have the right to subscribe. The subscription ratio is one existing trust unit to 0.0854 new trust unit, at the offering price of 11.70 Baht per trust unit.
The general public who are existing trust unitholders whose names are set out in the Unitholders Register Book are entitled to subscribe for additional trust units at Bangkok Bank branches on 14-15 January 2021 and 18-19 January 2021 during usual business hours; and on 20 January 2021 before 3.30 p.m. Subscribers may download the subscription forms at www.ftreit.co.th.
Mr. Peerapat Srisukont, Managing Director of FIRM, said: “As a REIT manager, we are confident that this offering will be fully subscribed as targeted. The transaction will increase the liquidity of FTREIT’s units traded on the Stock Exchange of Thailand and reinforce the confidence of domestic and international investors in the REIT. FIRM will continue to manage FTREIT in an efficient manner to deliver sustainable returns to unitholders.”
