SET welcomes Dusit Thani Freehold and Leasehold REIT

Stocks and Financial Services Press Releases Thursday December 14, 2017 16:43
Bangkok--14 Dec--SET

The Stock Exchange of Thailand (SET) will list Dusit Thani Freehold and Leasehold Real Estate Investment Trust, a real estate investment trust (REIT), investing in the freehold rights of Dusit Thani Laguna Phuket Hotel, Dusit D2 Chiang Mai Hotel and leasehold rights of Dusit Thani Hua Hin Hotel worth THB 4.03 billion (approx. USD 122.24 million), onDecember 15, under the ticker symbol "DREIT".

SET Senior Executive Vice President Santi Kiranand said that DREIT, the REIT converted from the property fund, would list and start trading on Property & Construction industry, Property Fund & REITs sector, on December 15, 2017.

DREIT offered 409.4 million units and THB 433.96 million in cash, via a swap in exchange of the assets and liabilities of the Dusit Thani Freehold and Leasehold Property Fund (DTCPF) at a ratio of 1 investment unit: 1 trust unit with cash in the amount of THB 1.06 per unit, to existing unit holders of DTCPF. Dusit Thani Properties REIT Co., Ltd., a subsidiary of Dusit Thani pcl is its REIT Manager, Krungthai Asset Management pcl is its trustee, while Maybank Kim Eng Securities (Thailand) pcl is its financial advisor.

Assets will be transferred from DTCPF to DREIT by investment in freehold and leasehold rights of three five-star hotels of Dusit Thani Group, with a combined 652 rooms and approximately 72 percent occupancy rate, consisting of the freehold rights of Dusit Thani Laguna Phuket Hotel and Dusit D2 Chiang Mai Hotel, as well as the leasehold rights of Dusit Thani Hua Hin Hotel (with lease term ending in 2040).

DREIT Chairman Chanin Donavanik said that DREIT has invested in the freehold and leasehold rights of the Dusit Thani Grouplocated in prime locations that are popular destinations among domestic and international tourists in Phuket, Chiangmai and Huahin provinces. All are well-equipped with full-range of facilities and well-managed by Dusit Thani group, the professionalmanagement team with almost 70 years of experience and highly accepted among domestic and international tourists, as such DREIT could provide good returns for the trust unit holders in the long run.

DREIT's dividend policy is to pay at least once a year at no less than 90 percent of the adjusted net profit of its financial year. DREIT's three major unit holders after its conversion are 1) Dusit Thani pcl (30.02 percent), 2) Social Security Office (25.42 percent) and 3) Muang Thai Life pcl (5.03 percent).

For more information, please see DREIT's prospectus at the Securities and Exchange Commission's website at, and the trust's general information at , as well as .

Latest Press Release

Training The Street Appoints Ankur Mittal Head of Asia and Middle East Region

Training The Street (, the leading corporate training provider for Wall Street firms and top-tier business schools, today announced that Ankur Mittal has been appointed Head of Asia and the Middle East region. Since joining TTS...

Photo Release: KBank launches QR KBank - First Thai banks e-wallet abroad

Mr. Soulysak THAMNUVONG (center), Acting Director General – Payment Systems Department, Bank of Laos, along with Mr. Pattanapong Tansomboon (right), First Senior Vice President, KASIKORNBANK, and Mr. Visith SENGDARA (left), Chief Executive Officer,...

KBank launches QR KBank the first Thai banks e-wallet in foreign country with Lao PDR as the first strategic market in AEC, aiming to gain LAK36 billion in the first year

KASIKORNBANK (KBank) introduces the "QR KBank" – an e-wallet application to grant an access to financial services for residents of Vientiane, Lao PDR, which will be effective on December 11, 2018. This application that offers cashless convenience...

TQM strikes IPO price at THB 23, to offer shares during Dec 12-14 to finance online platform setup for Insurtech

TQM's IPO shares will be offered to the investors at THB 23 each during 12-14 December. Thanachart Securities and Bualuang Securities have been appointed as Co-Lead Underwriters, and KGI Securities (Thailand), Yuanta Secuties (Thailand) and SCB...

Photo Release: SCBs digital ecosystem transformation garners world-class honor for its Smart University project

As a leader in digital banking, Siam Commercial Bank (SCB) has yet again garnered a world-class honor as a recipient of the Efma-Accenture Distribution & Marketing Innovation Award 2018. SCB is the only Thai bank entering the award's final round for...

Related Topics