Asset World Corp Public Company Limited (SET: AWC) has informed the Stock Exchange of Thailand that on August 14, the company’s board of directors has approved the establishment of a subsidiary to operate as a REIT management company and, in principle, to authorize the company and its subsidiary to conduct a study and undertake preparatory steps for the establishment of a real estate investment trust (REIT).
The subsidiary, named Asset World Corp REIT Co., Ltd., is expected to be established within August 2026 to act as a REIT management company. Following the establishment of the subsidiary, the subsidiary will undertake preparations and conduct a feasibility study for the establishment of a REIT. The subsidiary is expected to commence generating commercial revenue upon commencement of its duties as a REIT management company.
Asset World Corp REIT has an initial registered capital of THB 29,999,990, comprising 2,999,999 ordinary shares, with a par value of THB 10 per share. AWC holds 2,999,998 shares, representing 99.99997%, while AWC for Business 2 Co., Ltd. holds 1 share, representing 0.00003%.
AWC is currently considering the assets to be disposed of to the REIT. If the establishment of the REIT proceeds as planned, the company preliminarily expects the value the assets to be disposed of to the REIT to be within THB 50 billion, representing a transaction size of not more than 25 percent of the total assets as reported in the company’s financial statements for the second quarter of 2026. In this regard, from July 1, 2026 to date, the company has not entered into any transactions that constitute asset disposal transactions involving assets that are related or under the same project.
The approval at this stage is an approval in principle solely for the purpose of conducting a feasibility study and making preparations for the establishment of the REIT. The company and the subsidiary will still be required to undertake various related activities, including due diligence on the assets, asset valuation, assessment of the appropriateness of the relevant terms and conditions, transaction structure and market conditions, as well as other actions required under the applicable laws and regulations for the establishment of the REIT.
