BANGKOK Aug 28 Thailand's property developer
Bangkok Land Pcl said on Thursday it plans to set up
a 20 billion baht ($628 million) real estate investment trust
(REIT) and offer investors a 50 percent stake in it via an
initial public offering in September.
The IMPACT Growth REIT would be Thailand's first and would
use as its underlying assets properties at the company's IMPACT
Muang Thong Thai exhibition hall, managing director Peter
Kanjanapas told reporters.
Bangkok Land will hold 50 percent of the REIT. Kasikornbank
and Maybank Kim Eng Securities are the
company's financial advisors for the transaction, Peter added.
($1 = 31.8700 Thai Baht)
(Reporting by Saranya Suksomkij; Writing by Khettiya Jittapong;
Editing by Miral Fahmy)