Tesco’s Thai property fund in pre-marketing for IPO

The UK retailer’s Thai unit aims to raise about $450 million from the offering of a property fund, which will be the country’s biggest IPO in nearly six years.

Tesco’s Thai property fund in pre-marketing for IPO
One of Tesco's 88 Thai hypermarkets

Pre-marketing is underway for an initial public offering of the Tesco Lotus Property Fund, which aims to raise about Bt14 billion $450 million.

If successful, it will be the biggest IPO in Thailand since Rayong Refinery’s $719 million offering in May 2006, according to Dealogic.

Thai property funds are similar to a real estate investment trust Reit and Tesco’s planned IPO will create the biggest retail property fund in Thailand, according...

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