SET debut for Bhiraj Office Leasehold REIT
The Stock Exchange of Thailand on Tuesday will list Bhiraj Office Leasehold Real Estate Investment Trust, worth Bt6.61 billion, under the ticker symbol BOFFICE.
SET senior executive vice president Santi Kiranand said on Monday that BOFFICE would start trading under the Property & Construction Industry, Property Fund & REITs sector.
It will invest in the leasehold rights of Bhiraj Tower at EmQuartier.
Bhiraj Tower is a leading office building located at the heart of Sukhumvit Road for the past 27 years.
Its leasehold space comprises offices for rent, parking spaces and common areas for the offices, with an occupancy rate of 99 per cent as of last September 30, and the tenants are both Thai and multinational firms with diverse businesses.
BOFFICE offered 515.31 million units at Bt10 each, for a total of Bt5.15 billion, to investors during January 8 to 11.
Bhiraj REIT Management, a subsidiary of Bhiraj Buri, is its REIT manager, while Kasikorn Asset Management is its trustee, and Kasikornbank and Tisco Securities are co-financial advisers and lead underwriters.
BOFFICE has utilised the funds raised from the REIT units’ sales plus Bt1.72 billion in long-term loans to invest in the leasehold rights of Bhiraj Tower.
