Frasers Centrepoint to invest $520 mil in Thai developer TICON

SINGAPORE (Oct 10): Property company Frasers Centrepoint Limited (FCL) says its subsidiary, Frasers Property Holdings (Thailand) (FPHT), on Friday signed an agreement to subscribe for up to 735 million new shares of TICON Industrial Connection Public Company Limited for THB 13.23 billion ($520 million).

TICON is a Stock Exchange of Thailand (SET) listed developer and owner of industrial properties in Thailand, currently owning and managing 2.5 million sqm of industrial space. The company is also the sponsor of three property funds and a REIT in Thailand with combined assets under management of THB 32.4 billion.

FPHT will hold approximately 40% of TICON’s enlarged share capital upon completion of the transaction, which is subject to the approval of Securities and Exchange Commission, Thailand (SEC) and TICON’s shareholders.

---

Related Stories

• Thai exchange to use AI to improve oversight of listed firms
• SGX launches depository receipts for five Hong Kong stocks, including Alibaba, BYD
• Five Asean economies and their challenges in focus

---