Overwhelming demand for TFund

Ticon Property Fund's recapitalisation has won overwhelming interest from investors that Ticon Industrial Connection Plc has to relinguish some shares allocated to the company to individual and institutional investors, said Maris Tarab, managing director of ING Asset Management (Thailand), as the fund manager.

TFUND offers 185 milion units at Bt10.65 apiece, to raise Bt1.97 billion. Half of the new units are offered to existing holders and the other half to the general public.

"Most investors are impressed with TFUND's returns in the past 3 years and its resilience to stock exchange fluctuation. In the period, the fund has paid dividends in four rounds. Return as of June 30 this year stands at 8 per cent," Maris said.

The proceeds will be used to buy 47 industrial plants from Ticon Industrial Connection with combined space of 95,925 square metres. The new assets will boost TFUND's assets to cover 131 industrial plants with combined space of 286,482 square metres. Total value of the assets is Bt5.8 billion.

- The Nation

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Overwhelming demand for TFund

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