AWC to set up AWR trust with five projects valued at a minimum of 48.449 billion baht

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Summary · why it matters

Asset World Corp Public Company Limited, or AWC, disclosed that a special meeting of its board of directors approved the structure for establishing the AWC Lifestyle Properties real estate investment trust, or AWR, along with a plan to sell five projects into the trust at a combined minimum sale value of 48.449 billion baht, excluding taxes and fees. The total preliminary transaction value is expected not to exceed 50 billion baht. The five projects comprise Banyan Tree Samui at a minimum price of 6.463 billion baht, Banyan Tree Krabi Resort at 4.884 billion baht, Melia Koh Samui at 5.895 billion baht, Pattaya Marriott at 6.1 billion baht, and The Empire (Sathorn) at 25.107 billion baht. After the asset sale, AWC Hotel Property Company Limited, a subsidiary of AWC, will enter into a lease agreement for the hotel group assets from AWR to continue operating the hotel business, while AWC Commercial Property Manager Company Limited will serve as the property manager of AWR, and AWC will hold the right to manage and develop projects, collecting a fee of 3.5% of the total project development value. There is also a plan to subscribe for AWR trust units of not more than 28% of the total trust units issued and offered. Meanwhile, Finansia Syrus Securities recommends buying AWC shares with a target price of 3.90 baht, viewing the injection of assets into AWR as helping to unlock capital and reduce debt. AWC shares stood at 3.28 baht, up 0.14 baht, or 4.46%.

Impact on assets 2

Real Estate▲ · 1 stocks
Asset World Corp Public Company Limited
AWC
▲ PositiveCapitalrelevance

Board approved establishing the AWR REIT and selling five hotel projects into it for a minimum 48.449 billion baht, unlocking capital and reducing debt.

Digital Finance & Tokenization▲ · 1 stocks
Finansia X Public Company Limited
FSX
▲ PositiveCapitalrelevance

Finansia Syrus Securities recommends buying AWC shares with a 3.90 baht target price, viewing the AWR asset injection as unlocking capital and cutting debt.

Off-coverage companies 1

AWC Commercial Property Manager Co., Ltd.Private▲ Positive
Capitalrelevance

AWC Commercial Property Manager will serve as property manager of AWR, a role tied to the newly approved REIT structure.

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