The Stock Exchange of Thailand (SET) will list additional trust units of TICON Freehold and Leasehold Real Estate Investment Trust (TREIT) after finishing the conversion process of three property funds, becoming the biggest industrial real estate investment trust (REIT) in Thailand, on December 28, under the ticker symbol “TREIT”.
TREIT has successfully received the transfer of assets and liabilities from three property funds, namely Ticon Property Fund (TFUND), Ticon Industrial Growth Leasehold Property
Fund (TGROWTH) and Tpark Logistics Property Fund (TLOGIS).
SET Senior Executive Vice President Santi Kiranand said that the additional units of TREIT would list and start trading on Property & Construction industry, Property Fund & REITs sector, on December 28, 2017.
Welcomes the additional trust units of TICON Freehold and Leasehold Real Estate Investment Trust (TREIT) after finishing the conversion process of three property funds, the biggest industrial REIT in Thailand, for listing on SET today. pic.twitter.com/wwTnx5mdC7
— SET Thailand (@SET_Thailand) December 28, 2017
The conversion drives its total combined asset to THB 30.65 billion (approx. USD 928.8 million) as of September 30, 2017.
TREIT has invested in freehold rights and leasehold rights of lands, warehouses and factories with the remaining of lease contract rights of 26 years and the tenants are Thai companies and multinational firms.
TREIT assets consist of 192 units of warehouses and 300 units of factories in more than one million square meter area in the Eastern Economic Corridor.
TREIT offered 2.04 billion trust units with cash of THB 3.5 billion to existing shareholders of TFUND, TGROWTH and TLOGIS, via a swap in exchange of the assets and liabilities.
The swap ratio for TFUND :…