Airport fund takes off
Siam City Asset Management, a subsidiary of Siam City Bank and fund manager for the Bt9.5-billion Samui Airport Property Fund, announced yesterday that the offering had been successfully closed.
This marks the first airport property fund offering in Southeast Asia and gives investors exposure to tourism growth on the resort island of Samui. DBS Bank acted as placement agent for international investors for the offering, while Capital Nomura Securities was the underwriter. The fund size was set at Bt9.5 billion to allow for an attractive distribution yield for investors. Bangkok Airways, the airport operator, will continue to operate and manage Samui Airport to support the growth of the island as a tourist destination and provide attractive returns to the fund and its investors. The fund is expected to list on the Stock Exchange of Thailand on Friday.
|
