New Property Fund listed on the SET

Trinity Property Fund will start trading on The Stock Exchange of Thailand (SET) under the symbol of “TNPF” from March 8, making it the second property fund to be listed on the SET this year. Trinity Property Fund, worth THB710 million (approx. USD23.29 million), will belisted in the Property Fund sector of the Property & Construction industrial group, under the trade symbol of “TNPF”, Mr. Chanitr Charnchainarong, SET Group Head, Issuer & Listing, revealed. TNPF is a closed-end specific property fund with an unspecified project life. It is a freehold property fund invested in property in major commercial and business areas of Bangkok, with focusing on serviced apartments and shopping malls. TNPF has appointed Capital Nomura Securities PCL as its underwriter and One Asset Management Limited as its fund manager. TNPF will pay dividends at least once a year, at no less than 90% of its net profits excluding unrealized gains from the auditing of property appraisals or leases during the related accounting period. TNPF’s top three shareholders after its IPO are Trinity Asset Co., Ltd with 30.01% of total investment units, followed by the Ubonratana Foundation (2.82%) and Ms. Pranee Pha-oenchoke (2.78%). (www.thailand-business-news.com)