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Thai industrial land developer Amata plans $137 mln REIT in Q1 2015
November 20, 2014 / 9:23 AM / 3 years ago

Thai industrial land developer Amata plans $137 mln REIT in Q1 2015

BANGKOK, Nov 20 (Reuters) - Thai industrial land developer Amata Corp Pcl said on Thursday it plans to set up a real estate investment trust (REIT) worth 4.5 billion baht ($137 million) in the first quarter of 2015.

The company also plans to spend about 3-4 billion baht in 2015 for developing industrial land at home, in Thailand, Myanmar and Vietnam, Steven Siew, senior vice president for finance and investor relations, told reporters.

This is double from 1.5 billion baht spent this year after the company received good response from potential customers who visited the company’s industrial estates and looked for locations to set up their factories, he said.

It also planned to list its subsidiary in Vietnam, Amata VN, on the Stock Exchange of Thailand in the second quarter of 2015, Siew added.

$1 = 32.8300 Thai Baht Reporting by Pisit Changplayngam; Writing by Khettiya Jittapong; Editing by Anand Basu

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