FTREIT Announces Second Capital Increase Worth 3 Billion Baht in January 2020

Event Calendar Press Releases Friday December 27, 2019 16:48
Bangkok--27 Dec--Frasers Property
  • Frasers Property Industrial REIT Management (Thailand) Company Limited ("FIRM") annouced the offering of additional trust units for the second capital increase of Frasers Property Thailand Industrial Freehold & Leasehold REIT ("FTREIT") by mean of General Mandate. The total number of additional trust units issued will be up to 220,000,000 units and will be offered to general public who are existing trust unitholders.
  • 0.0845 new trust units will be offered for every 1 existing trust unit at an offering price of 14.30 Baht.
  • The subscription period for the additional trust units will be on 15 January 2020 to 17 January 2020, 20 January 2020 from 9.00 a.m. – 4.00 p.m., and 21 January 2020 from 9.00 a.m. – 3.30 p.m.

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 second capital increase of FTREIT. The total number of additional trust units issued will be up to 220,000,000 units worth 3 billion Baht, by mean of General Mandate and will be offered to general public who are existing trust unitholders. FIRM will utilize the capital received from the sale of the additional trust units for the purpose of repayment of the borrowings utilized 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.

The subscription ratio is 1 existing trust unit to 0.0845 new trust unit, at the offering price of Baht 14.30 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 on 15 January 2020 to 17 January 2020; 20 January 2020 from 9.00 a.m. – 4.00 p.m.; and 21 January 2020 from 9.00 a.m. – 3.30 p.m. Subscribers can make subscription at the Head Office of the Underwriter which is Krungsri Securities Public Company Limited or download 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 liquidity of FTREIT's units traded on the Stock Exchange of Thailand and reinforce confidence of domestic and international investors. FIRM will continue to manage FTREIT in an efficient manner to deliver sustainable returns to unitholders."

About Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM)

Frasers Property Industrial REIT Management (Thailand) Company Limited (FIRM) is a subsidiary of Frasers Property (Thailand) Public Company Limited, the leading integrated real estate platform with multi-asset class expertise. Founded in May 2013, FIRM is a non-financial company approved by SEC to operate as the manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT). FIRM formulates investment strategy for FTREIT and manages its interests in the assets. FTREIT's investment is not limited to Frasers Property's assets: high-potential assets from non-Frasers Property developers are also taken into consideration. Moreover, FIRM keeps looking out for opportunities in other investment models to boost its revenues even further, such as in sale & leaseback and asset enhancement initiatives, etc. under the management of its multitalented team.

For more information, please visit ftreit.co.th or Frasersproperty.co.th
About Frasers Property Thailand Industrial Freehold & Leasehold REIT

Frasers Property Thailand Industrial Freehold & Leasehold REIT (FTREIT) is a real estate investment trust (REIT) listed on the Stock Exchange of Thailand (SET) and currently the largest industrial and logistics REIT in the country with assets worth over THB 39 billion. FTREIT's investment portfolio is presently comprised of 578 units of factories and warehouses, representing an area of over 1.8 million square meters, all of them high-quality properties strategically located in key industrial areas of Thailand, such as Ayutthaya, Pathum Thani, Samut Prakan and the Eastern Economic Corridor (EEC). Acquired complete with tenancies of world-class companies from various industries, including next-generation automobiles, logistics and electronics, these income-producing assets have a high occupancy rate more than 80%. Moreover, FTREIT was assigned with an 'A/Stable' rating, which is the highest credit rating among all REITs in Thailand.

For more information, please visit ftreit.co.th
About Frasers Property (Thailand) Public Company Limited

Frasers Property (Thailand) Public Company Limited ("FPT") is a subsidiary of Frasers Property Group. FPT aims to be a leading integrated real estate platform with multi-asset class expertise. Today, FPT is one of Thailand's largest industrial & logistics property companies that is well-positioned for growth, with the strategic acquisition of Golden Land Property Development Public Company Limited ("GOLD") in 2019 further strengthening FPT as a leading residential, commercial and hospitality property company in Thailand. FPT is also the sponsor and manager of Thailand's largest industrial REIT, Frasers Property Thailand Industrial Freehold & Leasehold REIT ("FTREIT"), which is focused on industrial and logistics properties in Thailand; while GOLD is a sponsor and property manager of Golden Ventures Leasehold Real Estate Investment Trust ("GVREIT"), a REIT focused on commercial properties. FPT, GOLD, FTREIT and GVREIT are listed on the Stock Exchange of Thailand.

For more information on FPT, please visit: Frasersproperty.co.th
About Frasers Property Limited

Frasers Property Limited ("Frasers Property" and together with its subsidiaries, the "Group"), is a multi-national company that develops, owns and manages a diverse, integrated portfolio of properties. Listed on the Main Board of the Singapore Exchange Securities Trading Limited ("SGX-ST") and headquartered in Singapore, the Group has total assets of approximately S$37.6 billion as at 30 September 2019.

Frasers Property's assets range from residential, retail, commercial & business parks, to industrial & logistics in Southeast Asia, Australia, Europe and China. Its well-established hospitality business owns and/or operates serviced apartments and hotels in over 70 cities across Asia, Australia, Europe, the Middle East and Africa. The Group is unified by its commitment to deliver enriching and memorable experiences to customers and stakeholders, leveraging its knowledge and capabilities from across markets and property sectors, to deliver value in its multiple asset classes.

Frasers Property is also the sponsor of three real estate investment trusts and one stapled trust listed on the SGX-ST. Frasers Centrepoint Trust, Frasers Commercial Trust, and Frasers Logistics & Industrial Trust are focused on retail, commercial & business parks, and industrial & logistics properties respectively. Frasers Hospitality Trust (comprising Frasers Hospitality Real Estate Investment Trust and Frasers Hospitality Business Trust) is a stapled trust focused on hospitality properties. In addition, the Group has two real estate investment trusts listed on the Stock Exchange of Thailand. Frasers Property Thailand is the sponsor of Frasers Property Thailand Industrial Freehold & Leasehold REIT, which is focused on logistics and industrial properties in Thailand and Golden Land Property Development Public Company Limited is the sponsor of Golden Ventures Leasehold Real Estate Investment Trust, which is focused on commercial properties.

For more information on Frasers Property, please visit frasersproperty.com

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