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26 Dec 2017 18:03:00
SET News : SET welcomes first foreign hospitality REIT "SHREIT"
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News 120/2017

December 26, 2017

SET welcomes first foreign hospitality REIT "SHREIT"

Bangkok, December 26, 2017 - The Stock Exchange of Thailand (SET) will list 
Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment
Trust, under the ticker symbol "SHREIT", worth THB 3.53 billion (approx. USD 107
million), on December 27. SHREIT is a real estate investment trust (REIT),
investing in Strategic Hospitality Holding Limited (BVI), a holding company with
underlying assets in the form of extendable freehold and/or leasehold rights of
 three hotels in ASEAN.

SET Senior Executive Vice President Santi Kiranand said that SHREIT would list 
and start trading on SET in Property & Construction industry group, Property
Fund & REITs sector, on December 27, 2017. SHREIT is the first REIT on SET that
invests in foreign hotel properties.

SHREIT offered a total of 352.8 million units at THB 10.00 per unit to 
underwriter's benefactors and general public during December 13-15; and to
business partners, trust managers, parties related to the trust manager,
institutional investors and initial purchasers during December 18-19. SHREIT is
managed by Strategic Property Investors Co.,Ltd. Its trustee is Krung Thai Asset
 Management pcl, while having Siam Commercial Bank pcl as its underwriter.

SHREIT is managed by professional and independent trust managers with extensive 
experience and expertise in hotel properties. Therefore, it is advantageous in
the flexibility in setting investment policy aiming to generate highest return.

SHREIT Managing Director James Lim said that in the initial investment the fund 
raised would be used to invest in 100 percent stake of BVI. BVI will then
indirectly invest in foreign holding companies to take 100 percent ownership in
firms that own freehold and/ or leasehold rights of three hotels: Pullman
Jakarta Central Park in Indonesia, Capri by Fraser and IBIS Saigon South in
Vietnam. Currently these three to five-star hotels have a total number of 632
rooms in service and are managed by professional management teams with growth
potential from economic, commercial, investment, and travel industry expansion.

SHREIT's dividend policy is to pay at least four times a year at no less than 90
percent of the adjusted net profit of its financial year. SHREIT's three major
unit holders after its IPO are 1) Macquarie Capital Securities (Singapore) Pte
Ltd (41.27 percent), 2) PT Agung Podomoro Land Tbk (18.12 percent) and 3) FWD
Life Insurance Public Company Limited (8.50 percent).

For more information, please see SHREIT's prospectus at the Securities and 
Exchange Commission's website at, and the trust's general
information at, as well as .
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