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Thailand’s CPN will raise funds for new development

Thailand’s retail developer Central Pattana Plc (CPN) plans to raise an additional THB10-12 billion this year to finance its ambitious investment plans including developing a prime location at the busy intersection of Rama IV and Sathon roads.

Naparat Sriwanvit, an acting executive vice-president, on Wednesday said CPN will issue new units of its CPN Retail Growth Leasehold Property Fund (CPNRF) in a private placement, to be backed by two new projects in Chiang Mai and on Bangkok’s Ram Intra Road.

Currently, CPNRF invests in CentralPlaza Rama II, CentralPlaza Ratchada-Rama III and CentralPlaza Pinklao.

(Source: Bangkok Post)