Tesco Lotus fund sets offering price at top of indicated range

Tesco’s Thai property fund seeks to raise $245 million from its preferential offering, which it plans to invest in five additional shopping malls in Thailand.
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Tesco's Thai retail fund will exceed $1 billion after its latest offering
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<div style="text-align: left;"> Tesco's Thai retail fund will exceed $1 billion after its latest offering </div>

The Thai property fund of UK supermarket chain Tesco has fixed the price for its upcoming preferential public offering at Bt13.30 per unit and said on Friday that existing unitholders will be able to buy 0.3205 new units for every existing unit they own.

This will allow it to raise about Bt7.55 billion $245 million, which is in line with earlier announcements. The fund, whose full name is Tesco Lotus Retail Growth Freehold and Leasehold Property Fund TLGF, will use the proceeds to buy five shopping malls anchored by Tesco-Lotus hypermarkets from its sponsor.

“Following this public offering, TLGF will become Thailand’s largest property fund,...

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