BANGKOK, Sept 1 A Thai developer of ready-built
factories and warehouses, Ticon Industrial Connection Pcl
plans to seek a 4-5 billion baht ($125-156 million)
real estate investment trust (REIT) listing in November.
The company is seeking approval from the Securities and
Exchange Commission for the REIT's IPO, which would include
200,000 square metres of factories and warehouses as the
underlying assets, managing director Virapan Pulges told
Ticon expects revenue growth of 10-15 percent next year,
while this year's revenue will be flat at last year's 6.6
billion baht given its first-half performance was affected by
months of domestic political unrest, he said.
Ticon has seen a pick up in demand from foreign investors in
the second half of this year, with about 30-40 clients, mostly
Japanese investors in the auto sector, leasing the company's
factories and warehouses, Virapan said.
($1 = 31.94 Thai baht)
(Reporting by Pisit Changplayngam; Writing by Khettiya
Jittapong Editing by Matt Driskill)