Tesco plans B17bn property fund IPO | Bangkok Post: business

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Tesco plans B17bn property fund IPO

Return seen at 7-8% from 17 Tesco malls

Tesco, the UK hypermarket chain, plans to raise 17 billion baht by selling shares in a Thai property fund.

Sompong Rungnirattisai (left), Tesco Lotus Property’s director, and Somchai Boonnamsiri, CEO of KTAM, show the Plus Mall Srinakarin, one of the star assets of the TLGF.

Sompong Rungnirattisai, property director of Ek-Chai Distribution System Co, a Thai unit of Tesco, said the proceeds would be used for its retail business expansion in Thailand.

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Writer: Nuntawun Polkuamdee
Position: Business Reporter

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