Jan
20
WHA Plans Thai REIT as Hemaraj Land Deal Leads to Cost Surge
By-
Warehouse operator plans to raise more than $300 million
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Acquisition was first step in planned Southeast Asia expansion
WHA Corp., Thailand’s biggest publicly traded warehouse operator, plans to sell units in a real estate investment trust after its acquisition of the nation’s biggest industrial developer last year caused debt and funding costs to surge.
WHA wants to raise at least 11 billion baht ($303 million) by selling a REIT backed by rental fees from warehouses and factories, Chief Executive Officer Jareeporn Jarukornsakul said in an interview Tuesday. It also plans to sell about 30 percent of a water and power unit, which Jareeporn estimates will have a market value of at least 25 billion baht when it begins trading on the exchange in the fourth quarter…
WHA Plans Thai REIT as Hemaraj Land Deal Leads to Cost Surge
