By The Nation
FPT president Sopon Racharaksa said, “We are ready for another asset divestment to FTREIT after the board has approved a swapping of assets from 14 factories to six warehouses totalling 30,000 square metres with approximate valuation of Bt637 million to better align asset management strategies between FPT and FTREIT and maximise shareholder values of both entities.”
FPT will sell and transfer the ownership and/or leasehold within this fiscal year and will recognise sales of those assets in the second quarter, he added.
The build-to-suit (BTS) pipeline remains robust and the company expects to outperform its previously announced development target of 120,000 sq m for 2019 fiscal year, according to a press release on Monday.
The proceeds of the private placement, successfully done overnight on July 19, will be used for future investments and business expansions, said the release. The transaction will also unlock trading liquidity and free float requirement of FPT shares under SET regulations.
The company considers the capital increase to have been successful, reflecting the confidence of investors about its business potential under the leadership strategy of providing a full range of real estate platform services.
After giving the effect to the private placement, FPT now has 2,016,762,975 paid-up ordinary shares at a par value of Bt1 per share.
The Voluntary Tender Offer (VTO) for all securities of Golden Land Property Plc or GOLD is on progress. On July 19, Univentures Public Co Ltd, a major GOLD shareholder, announced that its shareholders have approved disposal of 39.28 per cent of shares in GOLD to FPT. The VTO process will end on August 8, 2019.
Sopon added, “We look forward to working closely with GOLD to deliver a world-class integrated property development to our customers. We continue to explore new investment and business expansion opportunities to deliver sustainable growth to our shareholders.”