CPN RETAIL GROWTH LEASEHOLD REIT
Thailand’s largest retail-focused real estate investment trust
| Acquisition details |
1. Central Pinklao Project (Renewal period) 15-year lease extension (from January 1, 2025 to December 31, 2039) 2. Central Rama 2 Project (Renewal period) Pay the 1st installment with shall cover the first 10 years of the lease term
|
| Type of REIT |
Non-redeemable and specific real estate investment trust (REIT) |
|
Term of REIT |
Indefinite (Leasehold rights with the longest remaining term to be expired on August 15, 2095) |
| Investment strategy | CPNREIT focuses on its investments in immovable properties, leasehold rights in immovable properties, and sub-leasehold rights in high-end immovable properties, particularly shopping malls. CPNREIT will also invest in other types that are related to or complement immovable properties in the category of shopping malls, such as assets for commercial purposes, office buildings, hotels, and serviced apartments, etc., as core assets of CPNREIT. CPNREIT will do so by means of purchasing and/or leasing and/or sub-leasing and/or accepting transfer of leasehold rights and/or sub-leasehold rights in the core assets, and place emphasis on the generation of benefits in the form of rental income and service fees, or any other income of a similar nature. |
| Distribution payment policy |
No less than 90% of adjusted net profit of the accounting year and is distributed at least on a semiannual basis |
| Estimated first year yield1 |
- Period 1 (July 1, 2024 – December 31, 2024): 4.77% (6 months) or 9.55% annualized. |
| Lessor | Central Pattana Public Company Limited (“CPN”) |
| REIT manager |
CPN REIT Management Company Limited (“CPNRM”) |
| Trustee |
SCB Asset Management Company Limited (“SCBAM”) |
| Property manager | - Central Pattana Public Company Limited (“CPN”) - Grand Canal Land Public Company Limited (“GLAND”) - Sterling Equity Co., Ltd. (“Sterling”) |
| Secondary market |
Stock Exchange Thailand (SET) |
1. First year yield is based on the offering price of 11.00 baht per unit
Minimum subscriptions and offering price
- Minimum subscription amount of 1,000 units and subsequent multiples of 100 units
- The payment for the trust unit subscription must be made in full subscribed amount at the maximum offering price of 10.70 baht per unit.
- The REIT Manager will announce the final offering price within April 29, 2024. Such Final Price will be determined from the survey of demands from institutional investors (or book building process). In case where the final price is higher than the maximum offering price, the difference will be refunded through channels provided in the subscription form.
Subscription channels
- Bangkok Bank mobile banking From April 23, 2024 at 09:00 a.m. to April 29, 2024 at 03:00 p.m.
- All Bangkok Bank branches (except micro branches) From April 23, 2024 at 09:00 a.m. to April 29, 2024 at 03:00 p.m. (please check business hours of each branch)
CPNREIT final price and allocation
Additional units of CPNREIT will be listed and traded on SET from May 10, 2024
Following the successful capital increase of CPN Retail Growth Leasehold REIT during April 23-29, 2024 with the offering price of 10.70 baht, CPNREIT has now determined the final price to be at 10.20 baht.
Bangkok Bank PCL, as a co-underwriter, would like to confirm that units subscribed through our channels are fully
Please visit www.cpnreit.com/eny for more information about CPNREIT.
For more information, please call Bualuang Phone on 1333
Warning: Investments are subject to risks. Please carefully study the product characteristics and risk and return conditions before any investment decision.
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