CPN RETAIL GROWTH LEASEHOLD REIT

Thailand’s largest retail-focused real estate investment trust

CPNREIT


Acquisition details

1. Central Pinklao Project (Renewal period) 15-year lease extension (from January 1, 2025 to December 31, 2039) 
with the Gross Leasable Area of 61,907 sq.m.


2. Central Rama 2 Project (Renewal period) Pay the 1st installment with shall cover the first 10 years of the lease term
(from August 16, 2025 to August 15, 2035) 
the Gross Leasable Area of 97,716 sq.m.

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
at a minimum within 90 days from the end of either the accounting year or the base accounting period, as the case may be.

Estimated
first year yield1

- Period 1 (July 1, 2024 – December 31, 2024): 4.77% (6 months) or 9.55% annualized.
- Period 2 (January 1, 2025 – December 31, 2025): 10.36% p.a.

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


Download draft prospectus


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)

Notes
  • New customers can easily open e-Saving accounts via Bangkok Bank mobile banking and authenticate with NDID or Be My ID.
  • For preparation before subscription via Bangkok Bank mobile banking, customers can access Bangkok Bank mobile banking in advance to create a subscriber profile. Customers with existing profile are recommended to recheck their information prior to subscription date. In the case that customers would like to transfer allocated securities to their securities depository account, the name on the subscription must be the same as the name on the securities depository account to successfully transfer the securities.
  • Customers can request to open securities trading account with Bualuang Securities via Bangkok Bank mobile banking.
  • For more information, please visit Bangkok Bank branches (except micro branches) or call Bualuang Phone 1333


Warnings

  • Before investing, investor should carefully study all aspects concerning the product, essential information, investment policy, risks, and operating performance of the REIT.
  • A REIT is governed by two codes. Issues related to the operation of REIT and its trustee are governed by the Trust for Transactions in the Capital Market Act B.E. 2007 (2550). Trust certificates are monitored and regulated under the Securities and Exchange Act B.E. 2535 (1992) (Securities Act).
  • The allotment of the trust units to subscribers shall be at the absolute discretion of the Underwriter, as disclosed in the Registration Statement and filing.
  • Underwriter reserves the right to close the subscription period before the end of subscription period as mentioned in the registration statement and filing due to the completeness of subscription.

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