SET welcomes AIMCG REIT on July 12

Stocks and Financial Services Press Releases Thursday July 11, 2019 16:47
Bangkok--11 Jul--SET
The Stock Exchange of Thailand (SET) will list AIM Commercial Growth Leasehold Real Estate Investment Trust worth THB 2.88 billion (approx. USD 93 million) on July 12, 2019, under the ticker symbol "AIMCG".
SET Senior Executive Vice President Manpong Senanarong said that AIMCG would list and start trading under Property & Construction industry, Property Fund & REITs sector.

AIMCG will invest in the leasehold rights of land and buildings of initial assets of three projects, namely 1) UD Town project, Udon Thani province for a period of approximately 21 years; 2) The 72 Courtyard, Bangkok, for a period of approximately 13 years; 3) Porto Chino project, Samut Sakhon Province, for a period of 30 years. AIMCG projects have unique advantages in quality and distinctive characteristics, and will be managed by experienced property managers with understanding of the market, namely Udon Plaza Co., Ltd., Chetchot Co., Ltd., and D-Land Property Co., Ltd., respectively.

AIMCG offered 288 million units at THB 10.00 each, for a total of THB 2.88 billion to general public during June 25-28, 2019. AIM Real Estate Management Co. Ltd. is its REIT Manager. SCB Asset Management Co., Ltd. is its trustee. Bank of Ayudhaya pcl and Discover Management Co., Ltd. are its joint financial advisors. Krungsri Securities pcl is its underwriter.

AIMCG Chief Executive Officer Amorn Chulaluksananukul said AIMCG's initial assets are high quality with unique locations. Three projects are (1) the UD Town project, the biggest lifestyle mall in northeastern Thailand, is one of the popular landmarks of Udon Thani province attractive to local residents and nearby provinces as well as tourists from neighboring countries; (2) The 72 Courtyard is a lifestyle mall located on Sukhumvit 55 (Thonglor), central business district of Bangkok with strong demand for high-end consumers; (3) The Porto Chino is the first and biggest lifestyle mall with various restaurants in Samut Sakhon province, serving local residents from nearby large communities while becoming a popular rest area conveniently situated on Rama II highway connecting Bangkok to the western and southern Thailand.

AIMCG's dividend policy is to pay no less than 90 percent of the adjusted net profit of its financial year. Major unit holders after its IPO are Allianz Ayudhya pcl (15.63 percent), Udon Plaza Co., Ltd., (5.03 percent), and Muang Thai Insurance pcl (2.78 percent).

For more information on AIMCG, 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.aimcgreit.com, as well as www.set.or.th.


Latest Press Release

Photo Release : Grab Thailand joined forces with the Ministry of Agriculture and Cooperatives, launching 'Farmers’ Market’

Grab Thailand in collaboration with Ministry of Agriculture and Cooperatives (MoAC), led by Dr. Kengkran Louvirojanakul, Head of Public Affairs, Grab Thailand (2nd from left) and Mr. Alongkorn Polabut, the advisor to the Minister of Agriculture and...

BTS GROUP FY 2019/20 NET PROFIT GROWS 184% YoY TO 8.2 BILLION BAHT AGAINST THE COVID-19 PANDEMIC IMPACT

BTS Group Holdings Public Company Limited (BTS Group) posted an excellent set of financial results for fiscal year 2019/20 (from April 2019 to March 2020). In spite of slowdown in the last quarter of fiscal year due to the outbreak of the coronavirus...

Photo Release: KBank and EGAT Saving and Credit Cooperative signs an agreement to integrate financial service via mobile app

Mr. Silawat Santivisat (right), KBank Senior Executive Vice President, and Mr. Chartchai Rojanaratanangkule, Vice President and President of Financial Management Committee, EGAT Saving and Credit Cooperative Limited, signed an agreement on the...

Thailand-based insurtech Go! Insurance secures funding to launch its easy-to-access health insurance platform

Go! Insurance - a Thailand-based digital health insurance company - has raised pre-seed funding from investors and will be launching its service in Thailand to provide better and easier access to health insurance. Founded in late 2019 by two insurance...

K PLUS launches new features for loan management via K PLUS – you can pay off your loan faster without going to a bank branch

KASIKORNBANK (KBank) is always determined to give customers more convenience. With the launch of four new features on K PLUS, customers can easily manage and conduct their loan transactions via the K PLUS application, with no need to go to a bank branch....

Related Topics