Frasers Property Thailand to Buy Additional Assets Worth Up to 2.78 Billion Baht
Frasers Property Thailand Industrial Freehold & Leasehold REIT (BKK:FTREIT) plans to acquire additional assets worth up to 2.78 billion baht, subject to unitholder approval, according to a Thursday Thailand Exchange filing.The assets comprise properties valued at up to 414 million baht from Frasers Property (Thailand), and 2.37 billion baht from Frasers Property Industrial (Thailand).The REIT manager also proposed a fifth capital increase through the issuance of up to 182 million new trust units to help fund the acquisitions and refinance debt due in 2027.The units will be offered first to existing unitholders, with any remaining units available through a public offering.Unitholders will vote on the asset acquisitions, capital increase and unit offering at an electronic meeting on Aug. 26, with a record date of July 30.
