The Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (TLGF) has successfully raised 7.54 billion baht by issuing 567.28 new investment units to eligible existing unitholders at a price of 13.30 baht per unit.
The issue attracted demand from eligible existing unitholders, who fully subscribed to the new investment units, with a subscription rate of more than 150% of the offer size excluding the sponsor's portion.
Somchai Boonnamsiri, the chief executive of Krung Thai Asset Management Plc, which manages the TLGF, said the strong response of existing TLGF unitholders reflects their confidence in the fund's growth potential.
With the injection of five properties taking the fund to 22 assets, TLGF has become the country's largest property fund by market capitalisation and net asset value.
Following the completion of the offering, the new investment units are expected to commence trading on the Stock Exchange of Thailand on Dec 11.
Investment unit allocation results can be checked at www.tlgf-fund.com.