SET Senior Executive Vice President Manpong Senanarong said that HYDROGEN will be listed and start trading on SET in the Property & Construction, Property Fund & Real Estate Investment Trust sector.
HYDROGEN's objective is to make the initial investment in the ownership and leasehold rights of real estate, and the ownership of movable properties in the following projects: 1) Saha Group Industrial Park Sriracha (east of Thailand), 2) Saha Group Industrial Park Kabinburi (northeast of Thailand), 3) Saha Group Industrial Park Mae Sot (west of Thailand), and 4) Tiger Suvarnabhumi DC. Saha Pathana Inter-Holding pcl (SPI), HYDROGEN's property manager, has over 45 years of experience and expertise in industrial land development, and factory and warehouse management for rent. The main properties in which HYDROGEN will initially invest are the strategically located industrial zone and center for logistics and distribution business, with diverse tenants in terms of business types and nationalities.
HYDROGEN offered 207.72 million units to the general public during November 21 - 25, 2022, at a price of THB 10 each, for the total offering value of around THB 2.08 billion. Proceeds arising from the fundraising combined with long-term loans from financial institutions will be used for the initial investment in assets worth THB 2.85 billion. Hydrogen REIT Management Co., Ltd. is the REIT manager, Kasikorn Bank pcl is the financial advisor and lead underwriter for trust units, with Land and Houses Fund Management Co., Ltd. as trustee.
Managing Director of Hydrogen REIT Management Co., Ltd., as the REIT manager, Piyapong Pinthuprapa said that the REIT will initially invest in warehouse and factory buildings comprising ownership of Tiger Suvarnabhumi DC, and the 30-year leasehold rights in factories within Saha Group Industrial Park Sriracha, Saha Group Industrial Park Kabinburi and Saha Group Industrial Park Mae Sot. All projects are in high-potential locations for development and economic expansion, inclusively with convenience and time saving in transporting goods. SPI is the property manager with experience and expertise in industrial estate development, and factory and warehouse management. The REIT's rate of return for the first year is estimated at approximately 7.0 percent, which is considered one of the available trusts in the market that offer attractive return.
HYDROGEN's dividend policy is to pay at least twice per accounting year at the rate of no less than 90 percent of adjusted net profit. However, the REIT manager can consider paying special returns in excess of the returns paid to unitholders twice per accounting period as deemed appropriate.
After the IPO, the top three major unitholders of HYDROGEN are: 1) SPI (10.01 percent), 2) Sahapat Real Estate Co., Ltd. (10.01 percent), and 3) I.C.C. International pcl (9.63 percent).
Investors and interested parties please find more details from the REIT's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.set.or.th.
Source: SET Corporate Communications