ASEAN KEY DESTINATIONS
SET welcomes “AIM Industrial Growth REIT” as first IPO of 2018
BANGKOK, January 8, 2018 - The Stock Exchange of Thailand (SET) will list AIM Industrial Growth Freehold and Leasehold Real Estate Investment Trust worth THB 1.55 billion (approx. USD 46.97 million) on January 9, 2018, under the ticker symbol " AIMIRT".
SET Senior Executive Vice President Santi Kiranand said that AIMIRT will be listed and start trading under Property & Construction industry, Property Fund & REITs sector, on January 9, 2018. AIMIRT has initially invested in the freehold of the immovable assets (such as land, cold storage buildings and warehouses), and movable assets in cold storages of JWD Infologistics pcl's group as well as immovable assets (such as land and warehouses) in TIP 7 project of TIP Holding Co., Ltd. (TIP).
AIMIRT offered 155 million units at THB 10.00 each, for a total of THB 1.55 billion, to the group of sponsors and/or concert parties, sponsors’ patronages, institutional investors and underwriters’ patronages during December 15 and 18-20, 2017. AIM REIT Management Co., Ltd. is its REIT Manager. SCB Asset Management Co., Ltd. is its trustee. Maybank Kim Eng Securities (Thailand) pcl and Krungsri Securities pcl are its underwriters, while Maybank Kim Eng Securities (Thailand) pcl and Bank of Ayudhya pcl are its financial advisors.
AIMIRT has initially invested in the leasehold rights of immovable assets such as lands, cold storage buildings and warehouses and movable assets in cold storage in four projects namely Pacific Cold Storage, JWD Pacific, Datasafe and TIP 7 projects, with a combined leasable area of approximately 58,559 sq.m., average building age of 3.26 years (as of June 30, 2017) and 100 percent occupancy rate.
AIM REIT Management Chief Executive Officer Amorn Chulaluksananukul said AIMIRT has initially invested in the 100 percent stake of cold storage and warehouse located in Thailand’s strategic locations that are hubs for transportation, production, seafood product distribution and processing food, well-situated near Suvarnabhumi Airport and Laem Chabang Deepsea Port. JWD Infologistics pcl’s group will lease back cold storage and warehouse assets in Pacific Cold Storage (PCS), JWD Pacific (JPAC), and Datasafe projects from AIMIRT for its warehouse and storage business operations for 10 years, with an option to renew contract of PCS and JPAC projects for two terms of 10 years each. In addition, TIP has also made an agreement to guarantee annual rental and service fees on a quarterly basis for the first three years to support any shortfall from revenue projection. This would ensure that the REIT will generate stable revenue and provide opportunity of good and steady returns in the long run for unit holders.
AIMIRT's dividend policy is to pay quarterly at no less than 90 percent of the adjusted net profit of its financial year. AIMIRT's major unit holders after its IPO are JWD Infologistics pcl (10.00 percent), Kraisakdawat Family (7.29 percent), and Thai Life Insurance pcl (6.92 percent).
For more information on AIMIRT, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th ; and for general information, please visit www.aimirt.com , as well as www.set.or.th .
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