The Stock Exchange of Thailand (SET) will list and trade TPARK Logistics Property Fund in the Property Fund Sector, Property & Construction Group on December 16, using “TLOGIS,” as its trading symbol, revealed SET Chief Market Officer, Issuer & Listing, Vichate Tantiwanich.
TLOGIS is a closed-end fund with an unspecified project life. TLOGIS is THB1,533 million (approx. USD46.21 million) in fund size, consisting of 153.30 million investment units with a par value of THB10.00 per unit. TLOGIS plans to use the funds raised to investment in land, warehouses and cold storage for two projects of Ticon Logistics Park Co., Ltd., which are Ticon Logistics Park in Bangna, Bangkok and Ticon Logistics Park in Wang Noi, Ayudhya.
TLOGIS’s rental space is located near Bangkok’s Suvarnbhumi Airport, and is in an excellent distribution center to serve the North, Central, and Northeast regions. In addition, TLOGIS shall have income guarantee after common area service for seven years and a month.
TLOGIS offered its investment units to the general public at THB10.00 per unit during November 18-25. BBL Asset Management Co., Ltd. was the fund manager. TLOGIS’s dividend payment policy is to pay no less than two times a year, and not less than 90% of net profits, excluding unrealized profit from immovable property.
TLOGIS’ major unitholders are Ticon Industrial Connection PCL, which holds 30.66 million units; the Social Security Office, holding 20 million units, Muang Thai Life Assurance Company Limited, with 10 million units, or 20%, 13.05% and 6.52% , respectively, of issued units.
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