FTREIT’s capital increase exercise receives 100% subscription

Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM”, as the REIT manager of Frasers Property Thailand Industrial Freehold & Leasehold REIT or “FTREIT”, announced the results of the offer of 241,000,000 trust units at 11.70 Baht per trust unit, in the value of 2,819.7 million Baht, to the general public who are existing trust unitholders by means of the General Mandate. FTREIT is the first REIT in Thailand which successfully increased capital by this approach last year.

Despite the volatility of the Thai economy and capital market against a COVID-19 outbreak, FTREIT’s offering was oversubscribed by high net worth and institutional investors. FTREIT’s offering was 100% subscribed with applications received for 241,000,000 units. The result of this capital increase shows the confidence of investors in FTREIT given the REIT’s investment in high quality assets, proactive asset management as well as strong financial management with good governance.

Mr. Peerapat Srisukont, Managing Director of FIRM, said: “The offering was fully subscribed as targeted. We believe that our strong performance, continuous growth, and achievements in previous investments in the strategic industrial and logistics locations will continue to instill and boost our investors’ confidence in our REIT. FIRM will utilize the capital received from the sale of the additional trust units by means of general mandate for the repayment of borrowings for investments during the period of September – October 2020.

To retain an investment-grade REIT and keep the financing costs at the appropriate rate, FTREIT will continue to maintain the healthy ratio of FTREIT’s interest-bearing debt to total asset value. Currently, FTREIT has been assigned a rating of ‘A/Stable’ by TRIS rating.”


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