The Stock Exchange of Thailand (SET) will list Sri
panwa Hospitality Real Estate Investment Trust on SET on December 23, under the
ticker symbol "SRIPANWA". SRIPANWA has invested in freehold rights of Sri panwa
Hotel phase 1 being swapped from Sri panwa Hotel Property Fund (SPWPF) and
freehold rights of Sri panwa Hotel phase 2.
SET Senior Executive Vice President Santi Kiranand said that SRIPANWA would list
and start trading in the SET's Property & Construction industry group, Property
Fund & REITs sector on December 23, becoming the first REIT converted from
SRIPANWA offered 200,183,000 units via a swap for SPWPF at a ratio of 1:1 during
November 25-December 2, 2016, as well as allocating 78,881,000 units to SPWPF's
unit holders during November 25, 28-29, at THB 10.80 per unit while the
leftover trust units were offered to the asset owners' benefactors,
institutional investors and the underwriter's benefactors during November
30-December 2, at THB 10.80 per unit. SRIPANWA is managed by Charn Issara REIT
Management Co., Ltd. Its trustee is SCB Asset Management Co., Ltd., while Siam
Commercial Bank pcl is its financial advisor and underwriter.
SRIPANWA has invested in freeholds rights of real estate consisting of lands and
buildings and movable property used to operate the two phrases of Sri panwa
project. Sri panwa Hotel phase 1 has been transferred from SPWPF which includes
38 luxury "Pool Villas" (53 rooms) and seven "Pool Suites" with private pools.
In addition, SRIPANWA also invested in Sri panwa Hotel phase 2, "The Habita",
which consists of 30 luxurious hotel rooms and one villa with the three-storey,
super deluxe five-bedroom and private pools, "X29."
Charn Issara REIT Management Chairman Vorasit Issara said that SRIPANWA had
invested in the freehold rights in real estate and movable property of the Phase
1 and Phase 2 of Sri panwa hotel projects, a top luxury hotel in Phuket. Sri
panwa hotel is situated on a private beach at the tip of Cape Panwa peninsula.
The hotel is famous among both Thai and international travelers for its
luxurious amenities and superior hospitality.
SRIPANWA's three major unit holders are Charn Issara Group (30.54 percent),
Social Security Office (22.26 percent) and Dhipaya Life Assurance pcl. (1.14
percent). SRIPANWA's dividend policy is to pay no less than 90 percent of
adjusted net profit of its financial year.
For more information on SRIPANWA, please see the company's prospectus at the
Securities and Exchange Commission's website at www.sec.or.th and the trust's
general information at www.cireit.com, as well as www.set.or.th.
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Source: The Stock Exchange of Thailand.