Thai billionaire Charoen Sirivadhanabhakdi's firm eyes $1B listing for real estate investment trust
Thai property developer Asset World, part of billionaire Charoen Sirivadhanabhakdi's business empire, is targeting an initial public offering raising at least US$1 billion for its new real estate investment trust (REIT).
Thai billionaire Charoen Sirivadhanabhakdi's company, Asset World, is planning to list a real estate investment trust (REIT) worth $1 billion, according to reports. The trust aims to acquire four hotels and an office complex, valued at around 48.5 billion baht (US$1.44 billion), including The Empire office and lifestyle complex in Bangkok, Banyan Tree Samui, Pattaya Marriott Resort and Spa, Meliá Koh Samui, and Banyan Tree Kabi.
The REIT is expected to attract both Thai and overseas institutional and retail investors, with foreign institutional investors accounting for about half of the initial offering, scheduled for early 202. Asset World's CEO, Wallapa Traisorat, stated that the company plans to inject more assets into the REIT over time to unlock their value and expects the new REIT to become an important funding vehicle for the group.
The firm currently has a portfolio of five office buildings, 11 retail and wholesale properties, and 25 hotels under brands like Marriott, Hilton, Hyatt, and Sheraton. Asset World aims to invest 100 billion baht through 2030 to expand its hotel and commercial businesses.
Brief written by urgent.news from VnExpress Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
