Tesco Lotus fund set to swell by B7.55bn | Bangkok Post: business

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Tesco Lotus fund set to swell by B7.55bn

Property buys will add 5 branches to holdings

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Unitholders of the Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) have approved a capital increase of 7.55 billion baht through a rights offering. 

Somchai Boonnamsiri, the chief executive of KTB Asset Management, which manages the TLGF, said the additional capital will fund the acquisition of three freehold Tesco Lotus branches (Phuket, Salaya and Nakhon Si Thammarat) and two leasehold branches (Rangsit-Nakhon Nayok and Bang Pu).

The acquisitions will increase the TLGF's holdings to 22 branches from 17.

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