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.


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