The Stock Exchange of Thailand (SET) will list IMPACT Growth Real Estate Investment Trust (REIT) worth THB 15.71 billion (approx. USD 491 million) on its main board on October 1, under the ticker “IMPACT”.
SET Executive Vice President Chanitr Charnchainarong said that IMPACT, the first REIT in the Thai capital market, would list and start trading on the Thai bourse’s Property Fund & REITs sector. Being listed as REITs, the firm could invest in more various properties than typical property fund, while the REITs could also boost investment choices for investors and funding opportunities for entrepreneurs.
IMPACT offered 1,482.50 million units via an initial public offering (IPO) at THB 10.60 per unit during September 8-19, with total value of THB 15.71 billion. IMPACT is managed by RMI Co., Ltd., a subsidiary of IMPACT Exhibition Management Co., Ltd. Kasikorn Asset Management Co., Ltd. is the trustee and Maybank Kim Eng Securities (Thailand) pcl is the financial advisor and one of the underwriters, together with Kasikornbank pcl and Kasikorn Securities pcl.
It has invested in freehold right of Building Exhibition and Conference of Project IMPACT, Muang Thong Thani, on 4 buildings, consisting of IMPACT Arena, IMPACT Exhibition Center, IMPACT Forum and IMPACT Challenger, including utilities system and equipment, as well as rights to manage some parking areas in the compound.
RMI Managing Director Wanphen Mungpiensakul said IMPACT would invest on its current site as Southeast Asia’s biggest exhibition center and meeting hall accommodating more than 8,000 exhibitions from exhibitors worldwide. With its 15-year property management expertise, IMPACT Exhibition Management Co., Ltd., a subsidiary of Bangkok Land pcl (BLAND), and its strategically prime location, it was a believe that IMPACT could provide good returns for the trust unit holders in the long run.
IMPACT’s dividend policy is to pay up to four times a year at no less than 90 percent of adjusted net profit of its financial year. IMPACT's three major unit holders after its IPO are IMPACT Exhibition Management Co., Ltd. (50 percent), Allianz Ayudhya Insurance pcl (2.2 percent), and The Government Savings Bank, Thai Life Insurance pcl, and Southeast Life Insurance Co., Ltd. (each holding 1.3 percent)
For more information, please see IMPACT's prospectus at the Securities and Exchange Commission's website at www.sec.or.th, and www.impactgrowthreit.com, as well as general information on SET's website at www.set.or.th .
