(Following is a press release of Ticon Industrial
Connection Pcl via an electronic mail. The statement was
confirmed by the sender.)
TICON pushes ahead to Launch new Property Fund “TGROWTH” worth
6.5 billion baht
The new property fund “TICON Industrial Growth Leasehold
Property Fund” or “TGROWTH”
will have a total investment of approximately 6.5 billion baht
and IPO is expected by year end.
Mr. Virapan Pulges, Managing Director of TICON Industrial
Connection PCL (TICON) discloses, “TICON has decided to issue a
new Property Fund “TICON Industrial Growth Leasehold Property
Fund” or “TGROWTH” as part of its fund raising policy for
business expansion. The company has appointed Siam Commercial
Bank PCL (SCB) as the Financial Advisor and also appointed SCB
and CIMB Thai PCL as the Underwriters of the Fund. SCB Asset
Management Co., Ltd. has been appointed as Fund Manager. A
registration statement and a prospectus draft have been filed to
the Office of the Securities and Exchange Commission, Thailand
(SEC) for approval. The Initial Public Offering (IPO) of the
Fund is expected to take place within the end of this year.”
“The objective of “TGROWTH” is to raise fund from retail and
institutional investors both in Thailand and overseas to
purchase, lease, and/or sublease properties which will provide
continuous benefits to the fund in the forms of property rental.
With a total investment value of approximately 6.5 billion baht,
the fund will invest in the acquisition of land rental rights
and ownership and/or leasehold rights of approximately 285,000
sq m. of TICON’s factories and warehouses of TPARK which is a
subsidiary of TICON.”, said Mr. Virapan.
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